Toll revenue bonds

Even after paring down the capital plan, the MTA will need to issue debt, and sooner than planned. It will be issued under the MTA's transportation revenue credit rather than its congestion pricing credit, so near-term debt service costs will be higher, CEO Janno Lieber said.

Her abrupt suspension of the tolling plan for Lower Manhattan leaves a $15 billion hole in the Metropolitan Transportation Authority's capital budget.

It is not clear how the Metropolitan Transportation Authority would fund its capital plan if the governor puts the brakes on the toll plan for lower Manhattan.

A strong project pipeline has P3 advocates hopeful for the future, despite some lackluster recent numbers.

The $684 million turnpike deal is one of a spate of recent forward delivery deals driven by interest rate uncertainties. 

President Biden promises the Feds will pay to rebuild the Francis Scott Key Bridge.

In a new debt profile report, the Comptroller Thomas DiNapoli says the MTA will be pressured if congestion pricing tolls in Manhattan are blocked.

"The upgrade is supported by strengthened debt service coverage ratios due to better than expected recovery from the pandemic," Fitch said.

Supply chain disruptions and economic impacts are raising concerns.

A freighter struck the bridge early Tuesday morning, toppling the 47 year-old structure and creating both a human tragedy and an infrastructure challenge.

"What we're doing is just being prudent managing the risk," said Metropolitan Transportation Authority Chief Financial Officer Kevin Willens.

Gov. Tina Kotek sent a letter to transportation commissioners asking them to scrap a tolling plan for Portland-area highways that was seven years in the making.

Oklahoma Attorney General Gentner Drummond released opinions that disallowed the holding of multiple government roles by Turnpike Authority Executive Director Tim Gatz and upheld the constitutionality of a 2023 law that altered the turnpike's governance structure.

Legal challenges to congestion pricing tolls may delay much-needed repairs to the city's transit system, the Metropolitan Transportation Authority said. 

Louisiana, Georgia, Tennessee and Illinois have transportation P3s on tap, and the Army Corps of Engineers is advancing its first four P3 programs.

States are considering tolls, public-private partnerships, per-mile usage fees and even retail delivery fees to shore up transportation funding among a declining motor fuel tax.

Financing for the $2.1 billion Calcasieu River bridge includes a mix of state funds, federal grants and bonds, which will hit the market in early April.

The new governor and concessionaire on the $2.1 billion P3 have reached a revised deal that will lower tolls and provide a 15% equity contribution to the local area.

A 2023 state law gave legislative leaders four appointments to the six-member turnpike board as lawmakers sought to reform the agency in the wake of a controversial, bond-financed expansion project.

The municipal bond rally has brought two big Illinois issuers into the market with plans to sell refunding bonds this week.