Election day is approaching quickly! Tuesday November 4, 2014 voters will head to the polls for statewide voting on various issues. One of those referendums is Proposition 1.
In a nutshell, here is a brief explanation of Prop 1:
- Will provide much needed money for our highways without raising taxes, incurring new debt or even adding to our tolls roads.
- With the ever-increasing number of cars on our roadways and an increase in the population, additional money is needed to keep our roadways in top condition as well as adding and expanding roadways.
- Prop 1 will change how the oil and gas taxes are allocated. Currently, 25% of the proceeds from the oil and gas tax goes into the state's General Revenue Fund, while 75% goes into the Rainy Day Fund.
- Prop 1 will divide the 75% Rainy Day Fund and send 1/2 to the State Highway Fund while the other 1/2 continues into the Rainy Day Fund.
- Because our oil and gas revenue is strong, the Rainy Day Fund is expected to continue to grow.
- Texas is expecting a huge surge in population in all areas of the State. The additional growth is already putting a huge strain on our existing roadways.
Your vote is important! Make sure you make time on Tuesday, November 4 to vote for this referendum as well as the many offices that are up for vote.
See you on Election Day!
Comments(4)