Moody’s downgraded Kansas’s highway revenue bonds to ‘negative’ from ‘stable’ on May 3 after state lawmakers voted to redirect $185 million in sales tax revenue intended for transportation projects to reduce the state deficit. The bond rating service also lowered the state’s general outlook to ‘negative.’ Read More.
Iowa lawmakers cut $4.85 million from the state’s Department of Transportation budget request, which could jeopardize jobs and affect transportation project inspection and maintenance duties. Read More.
Connecticut Gov. Dannel Malloy (D) has offered a budget compromise that would cut $50 million from his proposed transportation investment program. Read More.
Due to statewide transportation construction cuts in California, Monterey County’s Highway 156 improvement project is losing an additional $9.1 million in funding, on top of the $7 million cut announced earlier. California’s transportation fund is facing a significant shortfall due to lower-than-expected revenue from the state’s motor fuel taxes. Read More.