Infrastructure

The state's Democratic leaders approved $19 million in emergency funding for road maintenance and snowplows after ODOT said it would cut back snowplow services to four days a week amid inflationary pressures and gas tax revenue declines.

Republicans have repeatedly criticized the California high-speed rail project as a waste of taxpayer money.

Fitch Ratings has raised the Turnpike Authority's ratings to BBB-plus from BBB and assigned BBB-plus ratings to the Series 2024 A&B senior lien turnpike revenue bonds and Series 2024 subordinated TIFIA loan.

The budget proposal keeps $16.3 billion in reserves and pays down an additional $455 million in debt. While providing $1.1 billion in tax relief to residents, the plan is $4.6 billion lower than the current fiscal year's budget.

The delays have led to a technical default by the design-build contractor on the $450 million project to design, finance, build, operate and maintain the Thruway's 27 service areas.

A significant chunk of the costs will be passed to ratepayers, experts said.

The Equity in Infrastructure Project, created to generate opportunities for historically underserved businesses, hit 56 pledges at a California event.

The White House is set to announce whether the controversial high-speed project will win a major rail grant by the end of the year.

States are required to reduce vehicle-related greenhouse gas emissions under the rule that was finalized last week.

The projects range from airports to ports and transit-oriented development.