Highway funding bill proposed for the state of Washington
By Dan Boaz | Jul 7, 2015, 9:03:00 AM
The trucking sector is looking on as the state of Washington is the latest local legislature seeking to pass funding bills that will maintain the condition of the state's highways and roads. The full truckload market in Washington is just one area which will benefit if funding is approved for the state in the coming weeks.
The state's legislature passed a bill providing $16.1 billion in statewide transportation revenue last week, although for it to become law it must still be approved and processed through the House. Funding for the bill is partly covered by a hefty near 12 cent increase in gas taxes which would be phased in over the immediate twenty-four months following successful passage if applicable.
Safe passage is far from guaranteed however, as related spending measures are also tied in with the bill but there is, as with other states, an acceptance that the economic well being of Washington is closely related to the overall health of the transportation infrastructure. It's anticipated that the economic concerns should see the bill become law.
The $16.1 billion transportation revenue bill includes an 11.9-cent increase in the gas tax over the next two years passed the Legislature on Wednesday of last week, although the House must still must approve key accompanying bills.
Environmental issues are also part of the bill, but it is the funding itself that may prove to be the most contentious element of the package with the aforementioned gas tax. Stage one would see a 7 cent increase next month followed by an additional 4.9 cent increase in July of 2016.