Last month, the California Transportation Commission said the state would cut transportation funding by $754 million — a 38% decrease. Why? Because revenue from the state's levies on gasoline sales, which provide much of that funding, plummeted as gas prices dropped and more fuel-efficient vehicles proliferated. Those falling prices cut the state's gas excise tax revenue from 18 cents a gallon two years ago to 12 cents last year, and revenue is expected to sink to 10 cents in July. Every penny in revenue lost per gallon means a $140-million drop in transportation funding.Put in toll booths.
As a result, not only will no new projects be funded, but more than 200 projects already in development also would be de-funded or delayed. In Los Angeles County, for example, the cut could jeopardize the purchase of new light-rail cars, the construction of a pedestrian bridge at the Burbank Airport Metrolink station, and the widening of State Route 138 in the Antelope Valley.
Wednesday, February 3, 2016
California's evaporating gas tax
I'm sorry guys, but you can not eat your cake and have it, too. Grow up!