Monday, October 20, 2008

ALERT: The Sky will fall Tomorrow

Just wanted to alert you to news reports that will appear on Wed that life as we know it will soon end. An alien attack? No, just Gerald Nicely will be telling us on Tuesday that civilization will cease to exist without a gas tax increase.

Link

On Tuesday, lawmakers and transportation industry experts will begin looking at how Tennessee might pay for future road projects beyond the current 21.4-cents-per-gallon tax on gasoline.

Options include raising the rate on the gas tax by tying it to the rate of inflation, adding fees to transportation-related items like driver's licenses or vehicle registration, building toll roads and bridges, and borrowing money by selling bonds.

The Transportation Funding Option Committee has the task of researching alternative sources of income and reporting its findings to lawmakers in February. During the first meeting, its 20 members will hear from the chief of the Tennessee Department of Transportation about the current funding situation and what other states are doing.