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Cuomo: No toll hike could mean Thruway Authority credit downgrade

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Governor Cuomo is defending the concept of a proposed 45 percent truck toll hike on the New York Thruway. The Governor is saying that without the hike, the authority could suffer a bond rating downgrade at a critical time.

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Reported by

Karen DeWitt
NYS Capitol Correspondent

The Thruway Authority has not yet rescheduled a meeting that could adopt the 45 percent toll hike on trucks. Governor Cuomo, who hired the executive director of the Authority, says he has not spoken with anyone at the Thruway Authority about the toll hike proposal. The governor says he is concerned, though, that the Authority could face a bond rating downgrade if it does not impose the toll hike.

“It’s easy to say ‘there should be no toll increase’...It’s harder to say ‘we need to keep the finances of the Thruway Authority stable’.”

The governor is in the midst of a major project to replace the Thruway’s Tappan Zee Bridge that will involve selling billions of dollars in bonds.

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