Biden's proposed FY 2024 budget would accelerate $250.7 million to complete FFG Lynnwood Link
The Biden Administration’s proposed budget for FY 2024 would give Sound Transit’s expansion projects a major boost by accelerating funding for the Lynnwood Link extension and providing for the opportunity to secure early funding for projects that are currently in development.
Included in the president’s proposed FY 2024 budget is $250.7 million for the Lynnwood Link Extension. The accelerated funding, coupled with last year's funding for the Federal Way Link Extension, would create more than $40 million in borrowing savings for regional taxpayers that can be applied to other voter-approved extensions to places like Tacoma, Everett, West Seattle, Ballard, South Kirkland, and Issaquah.
The budget also includes $100 million in early funding for the Capital Investment Grant program which may include Sound Transit projects that are in project development, such as the West Seattle and Ballard Link extensions.
"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. "We thank President Biden, Secretary of Transportation Pete Buttigieg and Federal Transit Administrator Nuria Fernandez for emphasizing the importance of transit to our economic and environmental success and supporting Sound Transit in making that success possible."
https://www.soundtransit.org/get-to-know-us/news-events/news-releases/president-bidens-proposed-fy-2024-budget-would-accelerate