Gasoline tax increase proposed for road projects

Created: 01/30/2014 11:50 AM
By: The Associated Press

SANTA FE (AP) - New Mexico's tax on gasoline and diesel fuel would increase five cents a gallon under a proposal to help finance highway construction projects across the state.

Legislation sponsored by Democratic Rep. Roberto "Bobby" Gonzales of Taos would raise the gasoline tax from 17 cents a gallon to 22 cents through June 30, 2024, and then the tax would revert to 17 cents.

The special fuels tax on diesel would go to 26 cents a gallon for the same 10-year period before returning to 21 cents.

The tax revenue would allow the state to issue up to $300 million in bonds for major highway improvements.

Among the authorized projects would be widening Interstate 25 in part of the Albuquerque area and four-lane construction of U.S. 491 in northwestern New Mexico.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

KOB welcomes a lively and courteous discussion as long as you follow the rules of conduct set forth in our Terms of Use. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use.

Join Our Email List

Form not appearing? Click Here.