Connecticut Governor Ned Lamont, a Democrat, last month proposed tolling for transportation funding. New York Governor Andrew Cuomo, a Democrat, wants to institute a fee on motorists driving into Manhattan to infuse money into the cash-strapped Metropolitan Transportation Authority.
Borrowing Plans
In Pennsylvania, Governor Tom Wolf, a Democrat, wants the state to invest $4.5 billion in infrastructure projects over four years. He’s calling for a severance tax on natural gas -- but he faces a GOP-controlled state legislature that has rebuffed that idea before on the grounds that it will put its energy companies at a competitive disadvantage.
Others are seeking to borrow instead. Missouri Governor Mike Parson, a Republican, is pushing for $351 million in bonding for state bridge projects after voters rejected a gas-tax increase last year, though a key Republican has pushed a smaller $100 million plan. North Carolina Governor Roy Cooper, a Democrat, wants to put a $3.9 billion general-obligation bond on the ballot in 2020 to help finance water and sewer projects and schools.
"Other states have chosen to incur reasonable borrowing rather than passing on crumbling infrastructure to their kids," said Montana’s Bullock. "We are out of step with the rest of the country."
This article was provided by Bloomberg News.