Thank you! House Passes Bill to Stabilize Transportation Funding
The statewide business community made it clear to their legislators that stabilizing transportation funding is necessary to meet existing transportation infrastructure needs, which impact safety, quality of life, economic development and daily commerce throughout North Carolina.
Today, the N.C. House passed Senate Bill 20 with bipartisan support. The legislation will be sent back to the Senate, who is expected not to concur, and will then move to a conference committee to negotiate the differences between the House and Senate versions. We appreciate all of the House and Senate members who supported this legislation.
Currently, the motor fuels tax provides 70 percent of transportation revenue to our state; however the fluctuation in this tax makes funding for transportation infrastructure volatile and unsustainable in the future. Senate Bill 20 addresses transportation funding fluctuation by cutting the current gas tax and freezing the rate at 36 cents per gallon until 2016 to ensure consistent transportation revenue in the near future.
Thank you to those who took action on this legislation – your voice was heard! However the fight is not over on Senate Bill 20 or long-term solutions to address transportation funding challenges. In addition to supporting Senate Bill 20, the NC Chamber remains committed to advancing long-term reforms that establish North Carolina’s transportation infrastructure as a competitive advantage in the battle for job creation.
We will continue to keep you updated on this issue.
Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber