Breaking News: Oregon Lawmakers Unveils $1 Billion Proposal for I-5 Bridge

Oregon lawmakers want to borrow $1 billion to replace the Interstate 5 bridge. This would be the same as what Washington promised to do last year.

State lawmakers want to sell bonds backed by Oregon’s general fund and the Oregon Department of Transportation’s highway user tax program.

The details were sent to the state’s Joint Transportation Committee members on Wednesday, 22 March 2023, in a policy draft. Lawmakers say that some document parts are still not set in stone.

Oregon Lawmakers Unveils $1 Billion Proposal for I-5 Bridge

Rep. Susan McLain, a Democrat from Hillsboro, called the plan to borrow money a “straightforward package.” The bond from the general fund would be worth about $300 million, and the money from ODOT would be worth about $700 million.

Oregon’s local updates are just a click away – stay informed and engaged by clicking the link now-

The plan comes as the project to replace the bridge gets close to significant milestones. Planners in charge of the project said they needed money from both states to compete for large federal grants.

β€œWe’re making sure the federal government knows the state of Washington and the state of Oregon are working diligently to replace a very important West Coast bridge,” McLain said Thursday, 23 March, 2023.

Oregon’s transportation committee has not yet devised an official plan for the money. McLain says they don’t plan to make an authorized plan public until April. Then it would go to the Senate and House floors before it could be put on the state’s budget for the next two years.

The draft also says the project “may not cost more than $6.3 billion.” Planners say that inflation, problems with the supply chain, and a lack of workers are to blame for the recent rise in the project’s cost.’

A tweet related to this news has been shared by OregonDOT, which is given below-

Greg Johnson, who is in charge of the team replacing the bridge, said in December that he thought the project would cost between $5 billion and $7.5 billion. He told a spokesperson Thursday that his team knows Oregon has mentioned a spending limit.

When asked about a possible spending limit, McLain said, “It’s something we can discuss.”

The fact that the plan would take $700 million from a source of money that ODOT usually uses worried Lee Beyer, who is in charge of transportation in Oregon. He said the agency would have trouble getting money in the future because more and more electric cars will cut into the state’s capital from the gas tax.

Source- Oregon Public Broadcasting Department

Jessa
Jessa Martin

Jessa Martin is an accomplished news writer with a passion for keeping the community informed about the latest events and happenings in Hillsboro and the surrounding areas. With a keen eye for detail and a knack for storytelling, Jessa has become a go-to source for breaking news and in-depth reporting. As a news writer for Focushillsboro.com, Jessa covers a wide range of topics, from local politics and government to community events and human interest stories. Their writing is always informative, insightful, and engaging, offering readers a deeper understanding of the issues that matter most to the people of Hillsboro.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top