House Bill 1958 proposes $2.5 billion loan paid by tolls

Rep. John Ley 
for Clark County Today

Are $10 each way tolls coming to the I-5 Interstate Bridge? A proposed substitute bill offered by Rep. Jake Fey (Democrat, Tacoma) would allow the Washington State Department of Transportation (WSDOT) to bond (borrow) $2.5 billion for the Interstate Bridge replacement project. This is double the original $1.25 billion proposed under the revised finance plan over two years ago.

House Bill 1958 was heard Monday afternoon by the House Transportation Committee. It passed out of committee and could be heard by the full House for a vote later in the week. The initial version of the bill allowed WSDOT to borrow up to $1.6 billion.

The current finance plan for the I-5 Bridge replacement project is expected to be updated later this summer, with many expecting the $7.5 billion high end of the cost to jump to $10 billion or more. The original plan called for $1.25 billion in borrowing, paid back by tolls. The initial estimate for the “congestion pricing” on tolls ranged from $1.55 to $4.70 per one way trip over the bridge. Freight haulers would pay more.

With the amount borrowed doubling, it is likely the top toll rate would double as well, perhaps to $10 per trip. Currently, Washington state law allows for the charge of a toll up to the maximum rate charged anywhere in the state. That is $15 per trip, currently charged on I-405 and SR-167 in the Puget Sound. However that top rate is currently under review with a suggested top rate of $18 in their congestion pricing scheme.

At $20 per day, these tolls could take $5,000 per year out of the family budgets of hard working SW Washington families. This regressive tax is unaffordable by all but the wealthiest. As Vancouver City Council Member Bart Hansen worried a couple years ago – Democrats appear to be creating “roads for the rich.”

Transportation projects around the nation have exploded in cost, since the 2021 passage of the $1.2 trillion Infrastructure, Investment and Jobs Act signed by President Biden. One report indicated a 67 percent increase nationwide. In Washington, costs have exploded even more, for example the Hood River-White Salmon Bridge is up 215 percent to at least $1.12 billion. Rumors around Olympia are putting the cost up to $1.6 billion.

During a November Regional Transportation Council (RTC) Board meeting, Ron Arp of the Clark County Transportation Alliance said that it was likely additional dollars from the states would be needed for the I-5 project. Washington state has already committed $1.1 billion. Is that just the down payment, now that tolling bonds are proposed to double the original projection?

One staff estimate indicated the interest on the $2.5 billion bonds would be about $200 million per year. That means the first $200 million collected from tolls each year would go to Wall Street, if the full $2.5 billion were financed all at the same time.

A staff report indicated tolls may not be collected on the IBR until the following two conditions are met. 

• 1 – certification of the Secretary of Transportation to the Governor that WSDOT has received satisfactory evidence that a sufficient federal funding plan is in place and sufficient state and local funds are available to complete the IBR project.

• 2 – the bistate agreement between the Washington State Transportation Commission and the Oregon State Transportation Commission has taken effect.

Another huge concern is traffic diversion. In the failed Columbia River Crossing, it was estimated that 35,000 vehicles would divert and use the free I-205. The higher the tolls, the more vehicles will divert to use the one free crossing we have over the Columbia River.

Tolling, and therefore traffic diversion, could begin as early as 2026 which is when Administrator Greg Johnson and his Interstate Bridge Replacement Program team plan to begin tolling the existing I-5 bridges. The traffic diversion will likely turn I-205 into a parking lot as people on both sides of the river seek to avoid paying the tolls.

Both Washington and Oregon are wrestling with huge financial challenges in their budgets for both transportation and running the state government. Washington’s democrats are proposing a 9 cent increase in the gas tax, 15 cents on diesel fuel, new car tab fees, vehicle sales taxes and a host of other new taxes to take over $4 billion out of your pockets. 

Last week, this lawmaker offered an amendment to save Washington up to $500 million in their transportation budget. It would have prevented WSDOT from spending any funds on the capital project of a transit organization owned and operated in another state. 

Yes, this was specifically targeted at Portland’s TriMet. They are demanding we pay roughly TRIPLE the actual cost for 19 brand new light rail vehicles, none of which are truly needed for a 1.8 mile extension of their existing Yellow Line into Vancouver. The amendment was rejected along party lines. House Democrats don’t mind using your tax dollars to bail out Portland’s TriMet.

There are significant differences between the House and the Senate Democrat taxing and spending proposals for transportation. The next three weeks will be critical. As always, please continue to share your concerns with this and other legislators and the governor.

This lawmaker will do everything I can to stop the tolls and prevent the outrageously expensive light rail from being part of this project. There is no demand for any “high capacity” transit over the Columbia River, as less than 1,000 people daily ride the C-TRAN express buses.

It is an honor to continue serving you in Olympia.