HARTFORD — The gas pump icon on the dashboard of the Special Transportation Fund is lit up again, warning it could run out of cash by 2030, but state leaders are not panicking. The latest five-year budget projections prepared for the state legislature indicate operating shortfalls starting in the next one to two years will lead to the fund’s insolvency in four years without alternative financing, additional revenue or reductions in transportation investments. The dedicated budget fund was established in 1984 to finance transportation infrastructure after a deadly highway bridge collapse in Greenwich. Donald Shubert, president of the Connecticut Construction Industries Association, said he is unsure what to make of these budget projections. The state Department of Transportation generally cannot bid, contract and construct infrastructure projects fast enough for the construction industry, but highway construction is booming due to the use of federal infrastructure funding.
Connecticut transportation fund could run dry by 2030, budget forecasts warn
