The Biden Administration’s proposed fiscal year 2024 budget would give hundreds of millions of dollars to Sound Transit for expansion projects including the Lynnwood Link light rail extension, Sound Transit announced last week.
The budget sets aside $250.7 million for the Lynnwood Link extension. Combined with funding from last year for the Federal Way Link Extension, the president’s proposed funding would create more than $40 million in borrowing savings for local taxpayers that could be applied to other voter-approved extensions in the Puget Sound region, according to Sound Transit.
The budget also includes $100 million for the Capital Investment Grant program, which could include projects already in development like the West Seattle and Ballard Link extensions, Sound Transit said.
“President Biden’s major budget commitment to Sound Transit’s ambitious expansion plans underscores the administration’s recognition of the role of transit in our nation’s future,” said Sound Transit Board Chair and King County Executive Dow Constantine.
“Thousands of people across the Puget Sound count on Sound Transit to get to where they need to be. That’s why I’m glad President Biden’s budget proposes serious new investments to support critical transit projects like the Lynnwood Link extension,” said Sen. Patty Murray in a statement on the president’s proposed funding. “Building on the key federal investments we’ve made with new funds like the President has proposed would make a huge difference for commuters across the Sound.”
According to the news release, Sound Transit plans to expand the region’s light rail system from 26 to 62 miles “over the next several years,” while later expansions will expand the system to 116 miles.
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