Gov. Scott Walker’s current $1.3 billion road construction borrowing proposal would up state borrowing for road projects to a point that almost 20 percent would be used to pay off highway loans, according to an Associated Press report.
The report continues that this increase, to 20 cents of every dollar taken in, is a leap from the 7 cents per dollar rate back in 1999.
The plan would actually increase borrowing by 30 percent over the current system and funds would be raised via bonds.
The state’s department of transportation had previously recommended an increase in taxes and fees to bring in $750 million for road projects, the report added. These would have been in the form of a gas tax and vehicle registration fees.