Connecticut’s cash-starved transportation program would need to scrap some rail services, drive up fares, suspend 40 percent of planned capital projects and defer major highway rebuilds like the Hartford viaduct, to remain solvent over the next five years, Gov. Dannel P. Malloy’s administration has warned Wall Street.
As Connecticut prepares for a major bond sale next month to finance transportation improvements, projections sent recently to bond-rating agencies show the new state budget won’t prevent the Special Transportation Fund from falling into a series of annual deficits starting in July — or from reaching insolvency by mid-2020.
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