Maryland Eyes Higher Tolls After 2010
Falling revenues and increasing costs for the Intercounty Connector project will almost certainly mean increased tolls on Maryland’s toll roads after 2010, the Baltimore Sun reported.
A report from the Department of Legislative services showed that construction costs for the ICC account for 53% of the budget for the Maryland Transportation Authority, the independent agency that oversees toll roads in the state, the Sun said.
The authority’s outstanding debt is also increasing, and currently stands at $1.1 billion. It can legally only reach $3 billion, and the Legislative Services report forecasts that to happen in the middle of the next decade.
The report predicted that tolls would have to increase after the 2010 gubernatorial election.
The authority acknowledges that it expects to increase tolls, but said that the Legislative Services report is based on conservative toll revenue estimates, the Sun said.
