On Tuesday, Massachusetts Gov. Maura Healey announced a plan to invest $8 billion in roads, bridges and the Massachusetts Bay Transportation Authority (MBTA). The plan will take place over the next 10 years and will not rely on any tax increases, according to Healey.
Immediately under the plan, Healey’s administration will direct $857 million in surplus revenue raised through the Fair Share Amendment in 2024 to public transportation.
Most of that funding, about $780 million, would be earmarked for the MBTA. Money would cover workforce and safety spending required in response to a 2022 Federal Transit Administration investigation.
Healey's annual budget will call for steering $765 million of the $1.95 billion in available surtax funds to the Commonwealth Transportation Fund and repeating that pattern every year.
The transfer would work in two different ways, according to officials. With an annual commitment, the state can borrow against the funding, unlocking approximately $5 billion in bonding capacity for capital projects, and still spend most of it on transportation needs.
Legislative leaders are likely to review and respond to Healey's transportation funding plans during the first half of 2025. The House typically debates its annual budget bill in April, followed by the Senate in May.
Source: NBC, Boston.com
