States Continue to Propose Tax Changes to Fund Infrastructure
At least 18 state legislatures have either passed tax increases this year to fund infrastructure or are considering it.
The Pennsylvania Senate Transportation Committee recently passed a $2.5 billion transportation package that uncaps the oil company franchise tax, a tax on the wholesale price of gasoline, to help raise infrastructure revenues. The oil company franchise tax is applied to the first $1.25 per gallon of the average wholesale price of gas, estimated this year at $3.11 per gallon by the state Department of Revenue.
The D.C. Council recently approved a record $12.1 billion budget that the city’s 23.5-cents-a-gallon gas tax and replaces it with an 8.3 percent tax on wholesale gasoline and diesel purchases.
Meanwhile, a new Michigan poll says that most would favor an of one percentage point in the state sales tax — from 6 percent to 7 percent — to fix and maintain the state’s roads and bridges.
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