TxDOT Tells Lawmakers Funding Crisis Around the Corner

After funding billions of dollars in roadwork through debt over the last decade, the Texas Department of Transportation is two years away from a severe drop in funding unless lawmakers find more cash, agency officials said at a budget hearing Monday.

TxDOT Chairman Phil Wilson told the Senate Finance Committee that the agency is at a crucial turning point as large state bond programs are set to hit their limit by 2015.

“The fact is, we’re running out of capacity to issue the debt — we’re maxed out — and that’s where most of our money comes from,” Texas ...

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