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AGC warns on California budget battle

Posted By Tom Jackson On June 1, 2009 @ 10:25 am In Construction News | No Comments

Golden State voters said no to tax increases last week, and that has many in the state’s construction industry worried that politicians will raid the gas tax fund [1]to pay for other, non-construction items they deem more necessary. Failure to protect these funds from diversion will cripple an industry that’s already experiencing a 25-percent unemployment rate and make it harder for the state to sell construction bonds says the state Chapter of the Associated General Contractors.

A similar fight may very well erupt this fall when the Washington D.C.┬áreauthorizes SAFETEA-LU, the 6 year federal highway bill. With the president claiming “We’re out of money,” and deficits soaring it’s going to be hard to protect that $300-billion trust fund.

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[1] raid the gas tax fund : http://www.bizjournals.com/sacramento/stories/2009/05/18/daily52.html

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