The Maine legislature passed a bill that would link fuel tax increases to inflation.
The governor has supported the idea and is likely to sign the bill. The proposal would help offset a projected $88 million shortfall in the Highway Fund in fiscal year 2004-05.
The governor's gas tax indexing plan would tie scheduled gasoline and diesel fuel tax increases to the rate of inflation retroactive to fiscal year 2000 and take effect July 1, 2003. Scheduled increases in the fuel tax would be subject to periodic votes by the legislature.
The increased taxes are expected to fund several major projects, including the proposed I-295 connector in Portland, a third bridge for Augusta and a new I-395 connector in Bangor.
The governor has supported the idea and is likely to sign the bill. The proposal would help offset a projected $88 million shortfall in the Highway Fund in fiscal year 2004-05.
The governor's gas tax indexing plan would tie scheduled gasoline and diesel fuel tax increases to the rate of inflation retroactive to fiscal year 2000 and take effect July 1, 2003. Scheduled increases in the fuel tax would be subject to periodic votes by the legislature.
The increased taxes are expected to fund several major projects, including the proposed I-295 connector in Portland, a third bridge for Augusta and a new I-395 connector in Bangor.
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