Republicans Jump-Start 2018 Session with Fix Colorado Roads Act
Denver — Today, in the opening hours of the 2018 legislative session, Senator Randy Baumgardner (R-Hot Sulphur Springs) and Senator John Cooke (R-Greeley) introduced Senate Bill 1, the “Fix Colorado Roads Act,” underscoring the importance Senate Republicans place on the issue.
With the state’s population expected to exceed 6.9 million in 2030 and a significant backlog of important highway and road projects awaiting funding, SB-1 permits the issuance of bonds up to $3.5 billion, pending voter approval, for investment in Colorado’s roads.
“Every Senator agrees that transportation – fixing our roads – is one of the top priorities for the 2018 session,” said Senator Baumgardner. “I’m excited that Senate Bill-1 will not only address this issue once and for all, but that we can do it in a bipartisan manner, setting a tone for the rest of the session.”
Bonds issued under SB-1 will be funded with no additional tax increases, and will pull from currently existing revenues (10% of state sales and use tax). SB-1 does not reduce state funding for K-12 education or other programs. Furthermore, SB-1 increases the $1.88 billion in transportation funding promised in SB-267 to a total of $3.5 billion – an 85% increase.
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