Crossing the Golden Gate Bridge could soon cost more
SAN FRANCISCO - Commuters crossing one of the Bay Area's most iconic landmarks may soon find themselves digging deeper into their pockets.
Currently, motorists utilizing Fastrak pay $8.75 to cross the bridge, while those without Fastrak fork out an additional dollar.
The Golden Gate Transportation District has scheduled a public hearing on Thursday morning to deliberate on which of several toll increases to recommend.
The proposed plans entail incremental hikes of 50, 40, or 35 cents annually over the next five years, potentially propelling toll prices above $10 in the near future.
Why the toll increase?
Officials at the Golden Gate Transportation Authority cite the unique funding structure of the bridge. Unlike other Bay Area bridges, the Golden Gate does not receive dedicated state and local tax revenue and relies heavily on toll collections.
Moreover, dwindling traffic volumes add to the financial strain. Traffic on the Golden Gate currently stands at 80-85 percent of pre-pandemic levels. Simultaneously, the costs of steel, paint, and labor have surged, creating a projected budget shortfall of $220 million.
The proposed toll hike is anticipated to alleviate this financial crunch.
The Golden Gate Transportation Board aims to reach a decision by March 22, with the initial toll increases slated to take effect this July.