Wednesday, November 30, 2022

OBoard Willing to Hear Toll Hike Alternatives

By on March 4, 2022

Governor Seeks to Avoid Annual Increases of 8.3%

After certifying last week a fiscal plan for the Puerto Rico Highways and Transportation Authority (HTA) that establishes yearly highway toll increases of more than 8 percent in the next three years, the island’s Financial Oversight and Management Board (FOMB) seemed to be open to proposals by Gov. Pedro Pierluisi to seek funding sources to mitigate the toll hikes.

The fiscal plan, which the oversight board said would support the HTA’s exit from bankruptcy as well as define the reforms needed to improve the island’s transportation system, proposes increasing tolls in agencymanaged roads by 8.3 percent a year between fiscal years 2022 and 2024. The fiscal panel justified the toll hikes “to make up for the deficits of years of under-investing” in highway infrastructure and “compensate for and catch up” with the lack of toll increases in past years.

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