{"id":2406287,"date":"2025-02-25T07:50:02","date_gmt":"2025-02-25T12:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bistate-bridge-bill-authorizes-washington-state-to-issue-bonds-to-finance-project-washington-examiner\/"},"modified":"2025-02-25T07:53:16","modified_gmt":"2025-02-25T12:53:16","slug":"bistate-bridge-bill-authorizes-washington-state-to-issue-bonds-to-finance-project-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bistate-bridge-bill-authorizes-washington-state-to-issue-bonds-to-finance-project-washington-examiner\/","title":{"rendered":"Bistate bridge bill authorizes Washington state to issue bonds to finance project &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbistate-bridge-bill-authorizes-washington-state-to-issue-bonds-to-finance-project-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2406287&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A\u2064 new \u200bbill in Washington, known as house bill 1958, seeks to authorize the \u200bstate to issue up\u2062 to $1.6 billion\u2063 in bonds for the construction of a new bistate\u2064 bridge across the Columbia River, connecting Vancouver, Washington, and\u200d Portland, Oregon. The project aims to replace the aging existing bridge, which is over 100 years old, and will be financed\u200b through toll revenues. \u200b <\/p>\n<p>While the bill, sponsored by Rep. Jake Fey, has garnered \u2062support for its potential to expedite the bridge \u2062replacement,\u200c concerns have been raised by some lawmakers regarding\u2062 the financial implications\u200c for Washington in a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/arch2-gets-30m-for-hydrogen-hub-critics-call-it-a-boondoggle-washington-examiner\/\" title=\"ARCH2 gets M for hydrogen hub; critics call it a \u2018boondoggle\u2019 - ... Examiner\">multi-state project<\/a> with oregon.Critics are worried about the possibility of Washington bearing\u200b the\u2063 full responsibility for bond payments without a\u200d clear fiscal agreement \u2062with Oregon. <\/p>\n<p>Supporters argue that bonding is necessary for\u2064 moving the \u2064project forward, highlighting the current bridge&#8217;s safety risks.There are ongoing discussions to establish a future legal agreement about \u2063financial responsibilities between the two states. The bill is currently not scheduled for further committee actions,although \u200cits companion legislation in the Senate \u200bis set to be reviewed soon.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Bistate bridge bill authorizes Washington state to issue bonds to finance project<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2018463\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square)&nbsp;&ndash; A Washington bill would authorize the state to issue up to $1.6 billion in bonds to expedite the construction of a new bistate bridge to replace the existing one across the Columbia River between Vancouver, Wash., and Portland, Ore., which would be paid back with toll revenue.<\/p>\n<div class=\"article-paywall\">\n<p>However, some <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-partially-walks-back-irs-plan-to-track-most-transactions-over-600\/\" title=\"Biden Administration Partially Walks Back IRS Plan To Track Most Transactions Over 0\">lawmakers raised concerns<\/a> at&nbsp;<strong><a href=\"https:\/\/app.leg.wa.gov\/billsummary\/?BillNumber=1958&amp;Year=2025&amp;Initiative=false\">House Bill 1958&rsquo;s<\/a><\/strong>&nbsp;public hearing in the House Transportation Committee as to whether or not the bill would leave Washington on the hook for paying bonds on a multi-state project involving Oregon.<\/p>\n<p>Sponsored by Transportation Chair Rep. Jake Fey, D-Tacoma, HB 1958 authorizes the $1.6 billion in bonds to be used to pay for various aspects of the new bistate bridge, including its design and construction. All funds would be deposited into the Interstate Bridge Replacement Account, and to be paid for with tolling authorized by the state Legislature in 2023.<\/p>\n<p>For the bill&rsquo;s supporters, the <a href=\"https:\/\/amzn.to\/3YuVZYV\">upfront money obtained<\/a> through bonding means the existing bridge, which turned 108 years old earlier this month, can be replaced faster.<\/p>\n<p>Fey told colleagues that the bill ensures &ldquo;we have a safe, reliable bridge,&rdquo; adding that &ldquo;this project has a long history to it, and it is more than past the time&rdquo; to have it built.<\/p>\n<p>However, some committee members such as Rep. Ed Orcutt, R-Kamala, expressed reservations about how Washington would assume full financial responsibility for paying off the bonds. Rep. John Ley, R-Vancouver made the suggestion that the bill be implement on the contingency that Oregon accepted 50% of the financial risk.<\/p>\n<p>According to Fey, there currently no is legal agreement between Washington and Oregon regarding fiscal responsibility, though future agreements are in the works as the project progresses.<\/p>\n<p>Various other government officials testified in favor of the bill including Washington State Department of Transportation Principal Financial Officer Doug Vaughn, who told the committee that the bonding is a &ldquo;necessary step forward for this important project,&rdquo; adding that the bonding authorization represents a ceiling rather than the actual amount of bond debt that will be issued based on legislative appropriations. &nbsp;<\/p>\n<p>Heather Kurtenbach with the Washington State Building and Construction Trades Council told the committee that bonding is more preferential than &ldquo;pay as you go,&rdquo; noting that the current bridge &ldquo;imposes a safety risk to the traveling public,&rdquo; in part because of its vulnerability to a seismic event.<\/p>\n<p>Vancouver Mayor Anne McEnerny-Ogle also spoke in favor of the bill, saying that &ldquo;we&rsquo;re not special&rdquo; in regard to bond debt financing for projects like the bridge replacement.<\/p>\n<p>HB 1958 is currently not scheduled for any further committee action. Its companion legislation,&nbsp;<a href=\"https:\/\/app.leg.wa.gov\/billsummary\/?BillNumber=5734&amp;Chamber=Senate&amp;Year=2025\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Senate Bill 5734<\/strong><\/a>, is scheduled for a public hearing on Tuesday.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_2018463\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"2018463\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington bill allows $1.6B in bonds for new bistate bridge<\/p>\n","protected":false},"author":1,"featured_media":2406288,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/04\/AP24014160623172-1-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[51027,20697,3902,4762,32667],"class_list":["post-2406287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-bistate-bridge","tag-bonds","tag-infrastructure","tag-legislation","tag-washington-state"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/04\/AP24014160623172-1-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2406287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2406287"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2406287\/revisions"}],"predecessor-version":[{"id":2406291,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2406287\/revisions\/2406291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2406288"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2406287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2406287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2406287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}