On Monday, the state Thruway Authority approved a revised 2015 budget that includes no increase in tolls and provides $909 million to fund construction of the Tappan Zee Bridge replacement.

 

Last December, the Thruway’s board adopted a 2015 budget that had a $25 million revenue shortfall.  Much of the Thruway Authority’s leadership, including its Chair and Executive Director, has been replaced since then.

 

In the state’s 2015-16 budget, $1.3 billion of a $5 billion windfall from bank settlements was directed to the Thruway Authority.  Of those new funds, $750 million will go to the bridge project.

 

The revised budget also includes $22 million in spending cuts and reduces capital spending by $58 million.