Massachusetts Governor Deval Patrick vetoed a major transportation financing bill approved by the legislature, saying it is “not good enough” in a statement released Friday. 

Governor Patrick has said he’d rather go back to the drawing board then sign the bill as it stands now. The governor said he was vetoing the bill with "mixed emotions" because the current version does allow for new investment in the state’s transportation network, according to his statement.

Patrick had been pressing lawmakers to deal with a $135 million hole in transportation revenue that will develop three years from now when Massachusetts Turnpike tolls west of I-95 are scheduled to come down.

To close that gap, Patrick proposed either keeping up the tolls or raising the gas tax by another 3 to 5 cents.

The House and Senate shot down his change, saying the legislature could always address the tolls later. The bill in its current version raises $500 million in new taxes for transportation improvements, but it falls far short of the $1.2 billion the governor originally proposed. Legislative leaders believe they have enough votes in both the House and Senate to override a veto. The House plans to do just that next week.