New York State is expressing interest in a $2 billion loan under what’s called the Transportation Infrastructure Finance and Innovation Act as it seeks to replace the Tappan Zee Bridge.
A new Port Authority plan will slash tolls by as much as 50 percent on the Goethals and Bayonne Bridges and the Outerbridge Crossing.
Drivers who commute five times a week over the Goethals and Bayonne Bridges and Outerbridge Crossing can save nearly $1,200 a year on their E-ZPass rush hour tolls, and $1,800 a year off the cash tolls.
Cash tolls on the George Washington Bridge, Holland Tunnel, Lincoln Tunnel, Goethals Bridge, Bayonne Bridge and Outerbridge Crossing went up from $8 to $12 on Sunday.
The agency says it needs the additional revenue the hikes will generate to pay for a new 10-year capital investment plan, maintain security, and complete the over-budget World Trade Center.
The Port Authority said the additional revenue is necessary to pay for new bus projects and much-needed fixes for bridges, roads and airports.
Part of the Outerbridge Crossing will be closed for repaving over the weekend.