The New York State Thruway Authority’s Board of Directors has approved a $1.3 billion budget for 2024, marking an increase of $115 million from the previous year.
This budget boost primarily focuses on infrastructure improvements along the 570-mile superhighway system.
The budget allocation includes $450.9 million for capital projects, $411.9 million for operating expenses, $364 million for debt service, and $71 million for reimbursing the New York State Police for Thruway patrol duties.
This increase in spending comes after the Thruway Authority’s revised budget for 2023, which totaled just under $1.2 billion. The 2024 budget takes into account the toll increase approved in September, which will see a 5% hike for in-state E-ZPass users starting January 1.
Meanwhile, tolls for mail users and out-of-state E-ZPass holders will be 75% higher than for New York E-ZPass customers.
The revenue generated from this toll adjustment is primarily intended for investment in the Thruway’s aging infrastructure, focusing on bridges over 60 or 70 years old and highway maintenance.
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