California's Budget Gap Throwing Up Roadblocks for Highway Projects

Williams, Rochelle
April 2003
Bond Buyer;4/9/2003, Vol. 344 Issue 31611, p32
Trade Publication
California's $35 billion budget shortfall is leading to reduced funding for roads and highways and increasing anxiety about future transportation funding. The California Transportation Commission ended a four-month funding moratorium in the first week of April 2003, by adopting a spending plan that allocates $1.8 billion for statewide transportation projects between now and June 2004. But it is estimated that the state needs$ 4.3 billion to complete needed projects during that time frame. & ldquo; California is running out of money to do transportation projects,& rdquo; said Randy Rentschler, spokesman for the Metropolitan Transportation Commission, which oversees such projects for nine counties in the San Francisco Bay Area.


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