Posted at: 12/17/2012 11:56 AM
ALBANY, N.Y. (AP) - The state Thruway Authority board has dropped plans for a 45-percent increase in truck tolls, saying it's taking a number of cost-cutting steps instead.
The toll hike was proposed this summer by the board headed by appointees of Gov. Andrew Cuomo. It was said to be essential to shore up the finances of the state authority and avoid an expensive hit to its credit rating.
But Thomas Madison, the authority's executive director, says Monday a series of job cuts and other steps to cut spending will keep the agency solvent and protect its credit rating without a toll increase.
The toll for a three-axle truck traveling from Buffalo to New York City is about $88. Under the proposal, that would have increased to $127.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)