Texas voters approve $2.5 billion in funding for transportation projects
Texas voters gave a resounding ‘yes’ to new transportation funding Tuesday as they passed Proposition 7 with more than 80 percent of the votes.
According to the Texas Department of Transportation, the new funding from Proposition 7 will give the state more money to spend on infrastructure projects without having to enact new taxes, tolls, fees or debt. The plan, beginning in 2018, will send $2.5 billion of revenue to the state highway fund after state sales tax revenue exceeds $28 billion.
And starting in 2020, 35 percent of Texas’ vehicle sales and rental tax revenue in excess of $5 billion will also go to the highway fund.
“We are grateful to Governor Abbott and the Legislature for making transportation a priority and giving Texans a chance to approve this measure that will ultimately help all of us get around our great state much easier,” Texas Transportation Commission Chairman Tryon Lewis said.
“Now that the people of Texas have spoken, the Texas Transportation Commission stands ready to work with local leaders, communities and planning organizations to deliver roadway projects that are needed to ease congestion, address safety and maintain our extensive transportation system.”
Texas Senate Transportation Chairman Robert Nichols echoed the sentiments of Lewis and said the vote proves Texans want a “first-class highway system.” Nichols said Proposition 7 ensures the state has a predictable revenue stream to implement the many different road and bridge projects that are needed.
“Voters have made an investment in our state’s economic future by supporting Proposition 7 and ensuring our state’s highway system will be able to keep up with our increasing population and booming economy,” Nichols said.