Cost of a Turnpike Trip to Rise Five Percent in 2023, Offsetting the Pandemic’s Toll on Tolls
With more motorists on the road again, the Pa. Turnpike is looking to recoup some of its pandemic-related losses with a toll increase of five percent, writes Holly Herman for Phoenixville Patch.
The Turnpike Commission approved a $425.2 million operating budget on May 3, along with a $651 million capital budget, effective June 1. It will implement the five-percent increase on tolls in 2023.
The turnpike has been in the process of rebuilding the highway for the past ten years. Local projects include the widening of a two-mile stretch of the turnpike at Valley Forge Interchange on Route 422 in Upper Merion Township to the Valley Forge overpass in Tredyffrin Township. The project has a price tag of $117.9 million.
This new budget excludes an annual $400 million payment to PennDOT for public transit; however, the agency has accumulated debt of $14 billion from borrowing in order to make those payments over 12 years.
However, according to Richard Dreher, Turnpike CFO, the route is currently ahead on revenues and has $250 million left to spend in fiscal year 2022.
Read more about the toll increase at Phoenixville Patch.
that it was the world’s most expensive highway for motorists.
Connect With Your Community
Subscribe to stay informed!
"*" indicates required fields
