News

Actions

Colorado business groups will push for tax hike for roads

Posted: 12:01 PM, May 18, 2018
Updated: 2018-05-18 14:01:51-04

DENVER (AP) – Colorado voters will likely be asked this fall to raise sales taxes to pay for transportation projects.
  
A coalition of business groups on Friday announced it will gather signatures to put a measure on the ballot.
  
The proposal would raise sales taxes by .62 percent to pay off $6 billion in transportation bonds. With interest, they would cost taxpayers $9.4 billion over 20 years.
  
Voters will have other options to choose from.
  
One measure offered for this November’s ballot by the conservative Independence Institute would borrow $3.5 billion for roads without new taxes.
  
Another plan referred by the state Legislature will appear on the 2019 ballot if the others aren’t approved. It would borrow $2.34 billion without new taxes.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)