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Indiana Finance Authority OKs new Toll Road deal, rate hike

The board of the Indiana Finance Authority unanimously approved a new deal Thursday with the vendor operating the Indiana Toll Road, allowing 35-percent fee increases for large trucks as part of Republican Gov. Eric Holcomb's plan to pump an additional $1 billion into infrastructure projects around the state.

Posted: Sep 21, 2018 9:51 AM

INDIANAPOLIS (AP) — The board of the Indiana Finance Authority unanimously approved a new deal Thursday with the vendor operating the Indiana Toll Road, allowing 35-percent fee increases for large trucks as part of Republican Gov. Eric Holcomb's plan to pump an additional $1 billion into infrastructure projects around the state.

The rate hike takes effect Oct. 5 and the state would receive $400 million that same day from the Indiana Toll Road Concession Co. The rate increase applies to vehicles with three or more axles.

Indiana would receive a total of $1 billion over three years. Indiana Public Finance Director Dan Huge told the board the new deal comes with a letter of credit, meaning banks have guaranteed Indiana will receive its future payments.

Holcomb did not attend the meeting. He was on a trade mission to Italy on Thursday.

The infrastructure plan Holcomb announced earlier this month would earmark $600 million to speed up completion of the Interstate 69 extension in southern Indiana; $190 million for projects on U.S. Routes 20, 30 and 31; $100 million to boost rural broadband access; $90 million for improving hiking and biking trails; and $20 million to lure new direct flight routes to the state's airports.

Democrats say the new Toll Road rates amount to a tax increase for the trucking industry, but Holcomb has stressed that the new fees won't apply to passenger cars and would bring Indiana in line with what nearby states charge.

The trucking industry also has criticized the rate increases. Gary Langston, president of the Indiana Motor Truck Association, told the South Bend Tribune that they follow a large increase in state fuel taxes that went into effect last year. The combination of higher tolls and fuel taxes on truckers will ultimately hurt consumers and businesses since nearly all products travel to Indiana via trucks, Langston said.

Langston also predicted trucks will bypass the Toll Road, resulting in more congestion on toll-free highways and the possibility of more accidents.

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Indiana Coronavirus Cases

Data is updated nightly.

Cases: 663511

Reported Deaths: 12633
CountyCasesDeaths
Marion908511647
Lake48510882
Allen35951638
Hamilton32138398
St. Joseph30096513
Elkhart25423417
Vanderburgh21283379
Tippecanoe20096203
Johnson16380360
Porter16009272
Hendricks15855300
Clark11999181
Madison11764319
Vigo11636230
Monroe10363163
Delaware9854179
LaPorte9790197
Howard9075198
Kosciusko8574111
Bartholomew7479147
Warrick7430151
Hancock7418132
Floyd7226170
Wayne6645192
Grant6437157
Boone610389
Morgan6103125
Dubois5923111
Dearborn549068
Cass545899
Marshall5432105
Henry542593
Noble510178
Jackson465167
Shelby461490
Lawrence4189113
Gibson401781
Harrison401064
Clinton396553
Montgomery388483
DeKalb386478
Miami357663
Knox357585
Whitley349837
Huntington346277
Steuben339255
Wabash332376
Putnam331159
Ripley327762
Adams323949
Jasper317043
White297452
Jefferson295474
Daviess285596
Fayette271956
Decatur271088
Greene261680
Posey261431
Wells258575
Scott251250
Clay241544
LaGrange241270
Randolph225576
Spencer218030
Jennings215744
Washington212127
Sullivan203639
Fountain201842
Starke188451
Owen182853
Fulton179337
Jay178328
Carroll176519
Perry173435
Orange171150
Rush165322
Vermillion160842
Franklin159535
Tipton146841
Parke139416
Pike127833
Blackford120727
Pulaski106744
Newton96632
Brown95139
Benton92213
Crawford91013
Martin80214
Warren75814
Switzerland7558
Union67310
Ohio53911
Unassigned0433

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