A proposal that would boost transportation revenue by millions of dollars has been introduced and referred to committee for review.
Senate Bill 217, and the companion Assembly Bill 200, would require the Department of Revenue to deposit sales tax revenue from the sale of motor vehicles, motor vehicle parts, accessories, and services into the transportation fund.
According to estimates from the Department of Revenue and data from the Department of Transportation, the bill would increase funding for transportation by $97.6 million in FY2022.
The legislation, which sets the amount of funds transferred at 10 percent initially, would increase the percentage each subsequent year through FY2036, at which point 50 percent of relevant sales and use tax revenue would transfer to the transportation fund, boosting transportation funding by $845 million. This proposal does not increase taxes and would reduce the state’s current reliance on gas tax revenue – a diminishing source of revenue in recent years.
Senate Bill 217, introduced by Senator Andre Jacque (De Pere), has been referred to the Senate Committee on Transportation and Local Government. Assembly Bill 200, introduced by Representative Chuck Wichgers (Muskego), is being reviewed by the Assembly Committee on Transportation.
NFIB members are urged to contact their elected officials to urge them to support passage of this important legislation.