Arkansas Gov. Asa Hutchinson (R) presented a $300 million annual highway funding plan on Feb. 11 to expand or improve 92 percent of the 7,900 miles of highway that supports most of the state’s traffic, creating an estimated 3,900 jobs annually and generating $8 billion in economic activity.
Funding for the plan would come from:
- $206 million annually generated by extending a half-cent sales tax, approved by voters in 2012, which was due to expire in 2023.
- Increasing the fuel tax by 3 cents per gallon for gasoline and 6 cents per gallon for diesel, which combine to raise $58 million annually.
- $35 million minimum in annual casino revenue.
- Almost $ 2 million annually by implementing registration fees for hybrid and electric vehicles ($100 and $200, respectively).
If approved by the legislature, the sales tax extension would go before voters in 2020. Read More>>