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Investors - SEPTEMBER 1, 2017

Oregon Governor signs $5.3b transportation bill

by Andrea Waitrovich

Oregon Governor Kate Brown has a $5.3 billion transportation spending bill, which will pay for repairs to the state’s roads and bridges and fund new construction.

A 0.1 percent payroll tax will help fund public transit projects. The bill, according to KGW, will also create a new payroll tax that should bring in $103 million for alternative transportation projects in 2018. And the gas tax will go up 4 cents next year, and will go up a total of 10 cents by 2024.

The American Road & Transportation Builders Association’s (ARTBA) national bridge inventory report found that Oregon has 1,812 bridges in need of repair, for which it estimated the cost would be $3 billion. ARTBA said that of Oregon’s total 8,118 bridges, 429 (5 percent) are structurally deficient, with one or more vital components in poor, or worse, condition.

The American Society of Civil Engineers’ (ASCE) infrastructure report card found also that 11 percent of Oregon’s roads are in poor condition.

Project allocations include $50 million to the intersection of Cooley Road and U.S. Highway 97, $20 million to road improvements in and around Terrebonne, and $2 million a year to the city of Bend for local street maintenance.

And an estimated $450 million will be spent on a project to widen Interstate 5 near the Rose Quarter. To fund the project, Oregonians will pay more to register their vehicles.

 

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