Inflation worries drive WA lawmakers to jack up I-5 bridge borrowing plan by $900M
Washington state lawmakers on Monday backed a huge increase in the amount of toll revenues they’ll count on to help pay for construction of a replacement bridge on Interstate 5 across the Columbia River.
The House Transportation Committee amended then approved House Bill 1958, authorizing the sale of $2.5 billion in general obligation bonds. That’s $900 million more than assumed in the original bill. The legislation now goes to the Rules Committee and a likely floor vote in the coming days.
With significant cost increases on major highway and bridge projects in recent years, it made sense to recalibrate to a higher bonding capacity to avoid getting into a pinch, backers said.
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Project planners have estimated the price tag for replacing the bridge will range from $5 billion to $7.5 billion, with a likely figure of around $6 billion. Permits are anticipated by 2026. Once rolling, construction is expected to last until 2032.
https://washingtonstatestandard.com/2025/04/08/inflation-worries-drive-wa-lawmakers-to-jack-up-i-5-bridge-borrowing-plan-by-900m/