Lawmakers approve transportation funding plan in South Dakota

Posted in: advice, Business Factoring News, Freight Bill Financing News, Freight Factoring News, Freight Hauling Financing, Freight Hauling News, Staffing Company Finance News, Staffing Faqctoring News, Trucking Finance News, Trucking Financing News, Trucking News- Nov 12, 2014 No Comments

PIERRE, S.D. — Lawmakers looking for ways to pay for hundreds of millions of dollars in necessary repairs to highways and bridges have finalized a proposal that will go to the Legislature.

The Highway Needs and Financing Committee passed the recommendations on Friday.

Republican Sen. Mike Vehle is chairman of the committee. Vehle’s plan would come up with more than $100 million in its first year through a variety of fuel taxes, vehicle fees and other assessments.

But Vehle says those additional funds won’t fully address the growing problem. Tax increases will face an uphill climb in the Republican-controlled Legislature.

Officials say 25 percent of state roads will be rated as poor within the next decade, compared to about 2 percent now.

The Associated Press.(2014).Lawmakers approve transportation funding plan in South Dakota. The Retrieved from