The Thruway Authority closed on a $1.6 billion, long-term,
low-interest loan through the U.S. Department of Transportation's Transportation Infrastructure Financing and Innovation Act (TIFIA) program in December 2013, the largest loan in the history of the program at the time. During the past two years, $2 billion in bank settlement funds have been committed to support Thruway capital improvements and help pay for the New NY Bridge project. This funding will also freeze tolls on the entire Thruway system until at least 2020. While the state continues to seek innovative funding options, the remainder of the cost of the new bridge will be financed with Thruway Authority bonds.
