Transit Group: Illinois Road Fund Still Being Raided
Taxes on gasoline and fees on license plates are among ways Illinois raises nearly $3 billion a year for road construction and repair. But transit advocates say only a fraction of that is paying for concrete and steamrollers.
The Transportation Funding for Illinois Coalition is raising red flags about the state’s road fund financing as much as $176 million for employee health insurance and $41 million for workers’ compensation coverage.
Lawmakers have stemmed the flow of road fund money to outside sources. But a coalition expert says $500 million was “diverted” to other uses as late as 2011.
Transportation spokesman Guy Tridgell says the coalition’s insurance-cost estimates are inaccurate but the biggest drain on the road fund is escalating costs for employee pensions.
- Insurer Chubb Prepares to Pay $350M in Baltimore Bridge Collapse
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
- Growing Progressive Set to Hire 10,000 for Claims, IT, Other Roles
- Chubb CEO Greenberg: Some Financial Lines Underwriting Practices ‘Simply Dumb’