Posted on 04/05/2005 9:10:01 AM PDT by NormsRevenge
Assembly Democrats will unveil a package of bills today whose linchpin would be $10 billion in borrowing for new roadway construction, including perhaps the Bay Bridge project.
Assembly Speaker Fabian Núñez of Los Angeles will introduce the proposal today along with members of his Democratic leadership team.
The package would cut some taxes, increase others and place a $10 billion bond before voters to breathe new life into billions in planned transportation projects statewide.
Gov. Arnold Schwarzenegger has not seen details of the Assembly Democrats' package and has taken no position on it, spokesman Vince Sollitto said.
Sources close to the three-bill package said it would help cut gasoline prices, provide a stable source of future funding, and repay billions raided from road projects in recent years to meet the state's budget crisis.
Specifically, Assembly Democrats will propose:
* Reducing gasoline prices about 11 cents a gallon by cutting the sales tax California charges on such fuel.
* Increasing the state's general sales tax by a quarter of a cent, with revenues earmarked for future road projects.
* Placing the $10 billion bond on next year's ballot and paying for it by gradually raising gasoline excise taxes - by 1 cent in 2006-07, 2 cents in 2010-11, and 1 cent in 2015-16.
The proposal envisions reducing the state's general sales tax by a quarter-cent in 2010-11, but only if the federal government enacts changes in estate tax law to boost California's revenues.
While the Democrats' proposed multibillion-dollar bond measure could assist with cost overruns for the Bay Bridge project, it makes no firm commitment and does not specify how much money might be diverted for that project.
(Excerpt) Read more at sacbee.com ...
Watch out Schwartzie... Here it comes... It's gonna be high and inside!!!
IF they build the Oakland side of the Bay Bridge, the State of California should use that money to offset all requirements to purchase public display artwork for the next ten thousand years. They are going to spend additional $Billions just to make the bridge look pretty.
And you know what, the resulting bridge will be ugly anyway. You just know that for a fact.
Was that the same Bay Bridge that was damaged in the 89 earthquake??
Yup. 16 years later, they're still working on it. amazing, huh?
Sad....
* Reducing gasoline prices about 11 cents a gallon by cutting the sales tax California charges on such fuel.
* Increasing the state's general sales tax by a quarter of a cent, with revenues earmarked for future road projects.
* Placing the $10 billion bond on next year's ballot and paying for it by gradually raising gasoline excise taxes - by 1 cent in 2006-07, 2 cents in 2010-11, and 1 cent in 2015-16.
So basically they're going to raise taxes, but are going to attempt to hide it by reducing the tax bite on gas but increasing other taxes to more than make up for it.
What's wrong with raising the bridge toll to $10? Other than that would require those who benefit from the bridge to actually have to pay for it.
I guess we can't have that, so let's make everyone else pay more.
I agree....raising the bridge toll to $10 works for me.
What's wrong is that if it was a matter of the user paying, they would learn to live with the ugly old bridge. This entire project is being driven by racial and identity politics. There is no rational thought there.
If they do it right, it will look like the Coronado Bay Bridge in San Diego - bland, but OK. Still, it should be paid for by toll increase, even if that leads angry drivers to throw a few Democrats out of office. ;)
Assembly Democrats propose bills aimed at transportation
The Associated Press
http://www.bakersfield.com/state_wire/story/5414819p-5424412c.html
SACRAMENTO (AP) - Assembly Democrats on Tuesday proposed a complicated plan involving tax cuts, tax increases and bonds that they said would generate nearly $60 billion for transportation projects over the next 30 years.
The legislation would put a $10 billion transportation bond measure on the ballot in 2006. It would also eliminate the sales tax on gasoline, cutting prices about 11 cents a gallon.
But it would add a quarter percent to the sales tax on other taxable items until at least 2010 and earmark that money for transportation, and it would raise the 18-cent-per-gallon excise tax on gasoline by 3 percent every five years to keep up with inflation.
The tax adjustments would be revenue neutral, legislative aides said, but only if the federal estate tax goes up as scheduled in 2010. The state is supposed to get a share of that increase.
If the estate tax increase doesn't take effect, the quarter-percent sales tax increase would remain in effect.
Assembly Speaker Fabian Nunez, D-Los Angeles, said the plan would ease pump prices while generating more money for transit and highway projects aimed at easing congestion.
He contrasted the Democrats' plan with Republican Gov. Arnold Schwarzenegger's proposal to borrow $1.3 billion from the state's transportation account in the coming fiscal year to help balance the state budget.
"Traffic is too much of a headache-producer and a stress on our economy" to hold up new projects, he said.
A spokesman for Schwarzenegger, Vince Sollitto, said the administration would give the Democrats' plan "the serious review and open-minded consideration it deserves, which is more than the Legislature has given the governor's reform proposals."
He was referring to legislation backed by Schwarzenegger to automatically cut state programs when spending exceeds revenue, tie teacher pay to performance rather than seniority, eliminate traditional public employee pensions and allow retired judges, instead of the Legislature, draw legislative and congressional districts.
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On the Net: www.assembly.ca.gov
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