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- W644324587 abstract "Dependent on oil and gas severance fees for half of its annual budget, Louisiana was devastated in the mid-1980s when oil prices tumbled worldwide, the result of OPEC overproduction. The state's infrastructure is in great need of repair and expansion, and its transportation system is a textbook example of what happens to a state when highway funds are not protected by the constitution. In June 1989 the Federal Highway Administration (FHWA), making good on previous threats, cut off $220 million in federal funding to Louisiana, citing underfunding and neglect. In particular, the FHWA noted that Louisiana's transportation staff was about 500 workers short and that more than 1,000 bridges were not being inspected properly. Today, however, in a bold initiative, AGC (Associated General Contractors of America) has succeeded in getting a landmark infrastructure trust fund measure put before the people in a referendum that would provide $600 million more per year in highway funding and create at least 15,000 jobs. The proposed constitutional amendment would dedicate all of Louisiana's 16 cents-per-gallon excise tax on gasoline, diesel, and other special fuels to an infrastructure trust fund. The measure would also repeal, permanently, the state's three-percent sales tax on fuel, and in its place would come an additional four cents-per-gallon excise tax to a separate infrastructure catch-up fund entitled T.I.M.E. (Transportation Infrastructure Model for Economic Development)." @default.
- W644324587 created "2016-06-24" @default.
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- W644324587 date "1989-08-01" @default.
- W644324587 modified "2023-09-24" @default.
- W644324587 title "REBUILDING THE BAYOU STATE: LOUISIANA AGC TAKES THE LEAD WITH A BOLD NEW INFRASTRUCTURE INITIATIVE" @default.
- W644324587 hasPublicationYear "1989" @default.
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