The Thruway Board of Directors Approves Authority's 2024 Annual Budget
Today, the New York State Thruway Authority Board of Directors unanimously approved the Authority's 2024 Annual Budget. The $1.3 billion spending plan includes a $91 million or 25 percent increase compared to 2023 in capital improvement investments, resulting from the toll adjustment that goes into effect on January 1, 2024.
The approved 2024 Budget commits $2.4 billion over the next five years for Thruway Authority Capital Program projects across its 570-mile system statewide.
The 2024 overall budget totals $1.3 billion, which includes $411.9 million for the operating expenses of the Thruway Authority, $364 million for debt service, $71 million for reimbursement of costs associated with New York State Police Troop T patrolling the system, and $450.9 million for capital projects across the Thruway system in 2024.
Over the next five years, $2.4 billion will be invested into the Thruway's Capital Program, a $500 million increase compared to the 2023 Budget. The increased investment will lead to work on approximately half of the Thruway's more than 2,800 lane miles and projects on 90 of Thruway's 817 bridges. Bridge work will include replacements, rehabs, paintings, joint replacements, vertical clearance improvements, etc.