This week, the Indiana Senate voted on a plan to provide significant new state and local road funding over the next four years, without raising taxes on Hoosiers
The plan includes $1.3 billion in new state highway funding over four years from various sources including:
- $429 million from excess budget reserves in 2016;
- $50 million in accelerated interest payments from a road funding trust fund;
- $450 million in future state budget appropriations;
- $329.4 million of federal funding; and
- $26 million from refinancing existing bonds.
It also includes $1.5 billion in new local funding authority over four years.
Senator Randy Head said, “The Senate Plan also looks to the future, creating the FIRSST Task Force (Funding Indiana’s Roads for a Stronger Safer Tomorrow) to develop a long-term financial plan for state and local road needs.”
This plan is an important part of an ongoing discussion on how to fund Indiana’s infrastructure needs.
Senator Head said, “If you have questions or comments about this issue or other legislation currently being considered by the General Assembly, you can contact my office by email at Senator.Head@iga.in.gov or by phone at 800-382-9467
