Increased revenue in Transportation Fund totals $38 million
Sent April 13, 2017
The Wisconsin Department of Transportation (WisDOT) has realized let savings over the course of the state fiscal year. “Today, I am directing WisDOT to advance $65 million in projects statewide (see map) into state fiscal year 2017," Governor Scott Walker said. "In addition, WisDOT is projecting an additional $38 million in revenues, which the Legislature can allocate into the 2017-19 biennial budget. In total, these actions free up more than $100 million in funds for additional transportation projects due to new revenues and savings."
“Savings on the highway projects we planned for this year allows us to do more projects with existing funds. This June, WisDOT will fund 21 additional projects around the state,” noted Wisconsin Department of Transportation Secretary Dave Ross.
Lower fuel prices and more competitive bids on projects have resulted in increased savings on road projects. Using these savings now means WisDOT will accomplish more road work in the current fiscal year and provide additional resources to the Legislature in planning the next budget. Improving more roadways and bridges now, before inflation reduces purchasing power, and taking advantage of the savings will help preserve our assets and maintain infrastructure.
“We are also generating more revenue for transportation without raising the gas tax or registration fees,” noted Secretary Ross.
WisDOT just completed an updated revenue forecast and is projecting an additional $38 million in available revenues. This amount will be added to the Transportation Fund’s FY18 opening balance:
|Additional FY17 Revenue||$12,969,800|
|Additional 2017-19 Revenue||$25,225,400|
|Total Additional Revenue||$38,195,200|
“The redirected let savings and increased revenue forecasts are great news for the state,” said Governor Walker. “We’ll do more projects and bond $44.8 million less than planned. We are working and winning for Wisconsin.”
For more information, contact:
Rob Miller, Office of Public Affairs
(608) 266-2405, firstname.lastname@example.org