TxDOT Says It Would Cost a Mere $24.23 Billion to Eliminate Tolls

Houston Chronicle reports, “Texas could rid itself of toll roads, but at a steep price, according to the latest estimates by transportation officials. Based on outstanding debt and additional costs related to buying back bonds . . . , Texas Department of Transportation executive director James Bass told lawmakers [during an August 30 House Transportation Committee hearing] the state would need to pay $24.23 billion, as of Jan. 1, 2016. As more payments are made, additional interest also accrues, so the final total cost would change depending on exactly when the roads are paid off.” The Chronicle adds that TxDOT will submit a final report on the subject tomorrow, September 1.