In an anticipated move, the State Transportation Commission under the advice of MDOT has agreed to extend spending the last $700 million of Governor Whitmer’s $3.5 billion Rebuilding Michigan Bond program.
The Governor’s transportation bonding program was approved in 2020 and has provided the industry with a good amount of construction work. While the bonding program has helped our road and bridge network improve, it is not a preferred method of investing into the system as the money must be paid back with interest in future years, against future funding. In addition, it is short-term, not sustainable, and doesn’t invest money into the local transportation network.
Michigan has seen a few different bonding programs, including two separate ones under Governor John Engler. It is the one tool that a Governor has to invest into the transportation network unilaterally. For a long-term, sustainable and equitable infrastructure funding program to exist, it will require the Legislature to pass one.
This approval will allow for the full $3.5 billion bonding program to be delivered. The projects remain the same and this isn’t additional bonding, just an accounting necessity to allow for the entire Rebuilding Michigan Transportation Bond program to be fulfilled.
If you have any questions or concerns, please contact Rob Coppersmith, Executive Vice President, at robcoppersmith@thinkmita.org or Rachelle VanDeventer, Vice President of Engineering, at rachellevandeventer@thinkmita.org.
