Gov. says $25.8 billion capital plan too much $$$
The state Department of Transportation submitted a $25.8 billion five-year capital plan to Gov. David Paterson, but the governor is saying thanks but no thanks. State officials approved a bailout last spring for the Metropolitan Transportation Authority and agreed to finish the five-year capital plan for the entire state by the end of the year.
“Unfortunately this plan, and the plan the MTA submitted on October 1, are simply unaffordable given New York’s current fiscal condition,” he said in a statement. “I will not agree to raise taxes, which would be required to fund these plans, as Congress has not renewed the federal multi-year transportation program and State revenues continue to decline.”
New York is facing a mid-year budget deficit of $3 billion or more.
“If the Legislature does not work with me to address the budget deficit, it will become increasingly difficult to enact a necessary and affordable road and bridge plan for New York,” Paterson said. “We cannot afford a multi-year plan until the economy improves, the federal government provides adequate multi-year funding, and the Legislature joins me to seriously address the structural imbalance in the state budget.”
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