Democratic Gov. Steve Beshear says it will cost taxpayers $7 million every month lawmakers do not take action to replace the Brent Spence Bridge connecting northern Kentucky with Cincinnati.
The 50-year old bridge has no emergency shoulder and now carries twice the amount of traffic it was built to handle. But the $2.6 billion project has languished for years because northern Kentucky state lawmakers have adamantly opposed using tolls to pay for the bridge.
But Beshear told the Northern Kentucky Chamber of Commerce on Monday that waiting five years will cost the state an additional $400 million, using a 3 percent inflation figure from the Federal Highway Administration.
Beshear says he plans to meet with Ohio Republican Gov. John Kasich in January to come up with a plan to pay for the bridge.
The governors of Kentucky and Ohio have announced an agreement to work together to find the money to replace the outdated Brent Spence Bridge.
Ohio Gov. John Kasich and Kentucky Gov. Steve Beshear agreed Wednesday to create a bi-state management team that will investigate funding options to replace the nearly 50-year-old span. The heavily used bridge carries traffic between the two states over the Ohio River and is considered obsolete.
Preliminary estimates for replacing the bridge run more than $2 billion.