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Rail News: Financials
Pennsylvania panel OKs $62 billion transportation improvement plan
Pennsylvania's State Transportation Commission this week adopted a 12-year transportation program that aims to spend nearly $62 billion on improvements to roads, bridges, transit systems, airports and railroads.
The new plan anticipates that amount to be available for transportation investments. It compares with $63.3 billion anticipated in the plan's last update, which was in 2014, the Pennsylvania Department of Transportation (PennDOT) announced yesterday.
"Through ongoing efficiencies at PennDOT, we continue to stretch taxpayers' dollars to reach as many transportation needs as possible," said PennDOT Secretary Leslie Richards. "This update reflects the progress we are making, chipping away at our large backlog of pavement and bridge needs while adding some capacity expansion to address long-standing desires for better mobility."
The new program, which takes effect Oct. 1, anticipates $8.6 billion being available for transit programs, $305 million for multimodal and $229 million for freight-rail projects.
Key projects in the updated plan include $143 million to replace the Interstate 84 bridges over Lackawanna County Railroad and Roaring Brook in Lackawanna County.
State law requires the commission to review and update the 12-year program every two years. No capital project can advance unless it is included in the 12-year program.
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