The Senate Transportation Committee released their proposed transportation budget for the 2017-2019 biennium Monday, and it’s tighter than the 2015-2017 budget by more than $270 million.
It appropriates $8.4 billion for transportation for 2017-2019.
A key change may be in the revenue gained through transportation revenue. According to the budget summary, transportation revenue is projected to bring in $166 million more than the last biennium. According to the summary:
Fuel tax collections are generally flat while license, permit and fee revenues are up. Toll revenues are generally up with increases in I-405 Express Toll Lanes, SR 167 HOT lanes, and the Tacoma Narrows Bridge toll revenues as well as small downward revisions on the SR 520 bridge toll revenues. Overall, state transportation revenues are forecasted at $6.4 billion for the 2017-19 biennium.
The March forecast also incorporates federal funding levels from the Fixing America’s Surface Transportation (FAST) Act, including recommendations made to the Governor on the state-local split of FAST Act revenues.
In the process of drafting the proposed budget, the STC put together a leaner budget than Gov. Jay Inslee, who’s own proposal was around $8.5 billion.
A public hearing is scheduled for the proposal Tuesday at 3:30 p.m.