Tag: Turnpike

Turnpike Tolls Continue to Rise to Pay for Bond Debt

highway

For the fifth consecutive year, the Turnpike Commission welcomed 2013 with an increase in tolls, ten percent for cash customers and two percent for electronic customers (E-Z Pass).  These toll increases are necessitated by the obligation of the Commission to pay $450 million annually to PennDOT as a result of Act 44 of 2007.  As we noted in a Policy Brief a year ago (Volume 12, Number 5) the Turnpike Commission’s strategy is to pledge toll revenues to cover the issuance of debt in order to satisfy the Act 44 obligation.  We warned that such a strategy is fraught with danger as the Commission is risking the Turnpike’s long-term fiscal health by continuing to take on larger and larger debt levels.

 

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Turnpike Drowning in Debt?

Recently Pennsylvania’s Auditor General stated that the Pennsylvania Turnpike is “drowning in debt”.  This characterization was disputed by the Turnpike’s CEO as “simply not true”

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Pig in Turnpike Poke?

The Turnpike Commission says it is planning to build a 12.5 mile extension of the Southern Expressway at a "projected" cost of $633 million. Projected

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