Gov. Dannel P. Malloy released the following statement regarding a vote yesterday by the Finance, Revenue and Bonding Committee, approving legislation that will help stabilize the state’s transportation funding in the long-term.

The proposal, House Bill 5046, also received a favorable vote by the Transportation Committee on March 22.

“This is an important step forward as we work to ensure the long-term solvency of the Special Transportation Fund, and I applaud Finance Committee leadership,” Malloy said in a statement. “The truth is that if we do not find new revenue, we will not be able to keep our roads, bridges, tunnels and rails in a state of good repair, and we will be forced to significantly increase fares and dramatically reduce services on bus and rail services. If we fail to take action this year – on this bill and on my proposals to ensure the short-term viability of the transportation fund – we will put the safety of Connecticut drivers at risk and cause unnecessary harm to our economy.”