Transportation Fund Expected to End 2017-19 Budget with Nearly $100 Million More than Expected
"Thanks to the Reform Dividend, we can adequately fund our roads and bridges without slapping a tax increase on the hardworking taxpayers."
MADISON – Wisconsin’s Transportation Fund is projected to end the 2017-19 biennium with nearly $100 million more than expected, according to a memo released from the non-partisan Legislative Fiscal Bureau (LFB). The LFB says the nearly $100 million increase is due to projections of higher gas tax revenues and lower debt service costs.
“With gas tax collections on the rise and lower borrowing costs, I will repeat what I have said throughout this budget process: now is not the time to raise the gas tax or vehicle registration fee on Wisconsin citizens.
“The transportation budget I proposed months ago provides more money for all levels of local government to fix roads and bridges and the most money ever for state highway repairs. It also includes the lowest level of borrowing since the 2001-03 budget.
“Thanks to the Reform Dividend, we can adequately fund our roads and bridges without slapping a tax increase on the hardworking taxpayers. The projected increase in gas tax collections and lower borrowing costs outlined in this memo only reinforce the budget we’ve proposed. My message is simple: let’s get it done.”
The memo comes after the Department of Transportation recently announced it had realized project savings and projected additional revenues. The savings and additional revenues free up more than $100 million in funds for additional transportation projects.
A copy of the LFB memo is attached.
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