Early Trends Support Highway Tax, Reject Marijuana

highwaytax

Arkansans will soon have a new billion-dollar highway program, but initial voting trends indicate that state voters will reject a medical marijuana proposal and reject a change in financing options for city and county governments.

With almost 38% of votes counted, a half-cent sales tax increase for highway construction had captured more than 58% of the vote. The new tax proceeds will pay for bonds to finance $1.3 billion in four-lane highway improvements, which, with existing revenue, will provide $1.8 billion for four-lane projects during the next 10 years.

Cities and counties will each receive 15% of revenue under the program, with that estimated to direct $670 million in the next 10 years to local governments for local road projects.

County and city turnback totals for Sebastian County are estimated at $26.362 million during a 10-year period (around $2.636 million annually), while county and city turnback totals for Crawford County are expected to hit $11.745 million (around $1.174 million annually).

County and city turnback totals for Benton and Washington counties combine at around $86 million, while county and city turnback totals for Pulaski County are expected to be $80.310 million. Click here to read the full story from our partners at TheCityWire.com.