Creating a Fully-Funded, Sustainable Solution
We all know there is a backlog of highway projects that has left huge gaps in Colorado’s transportation network. We also all agree there must be a sustainable funding source to chip away at that backlog over the long run. That funding source already exists. There is no need to raise taxes.
The state budget is currently facing an estimated $600 million shortfall. We can no longer depend on Senate Bill 1 and House Bill 1310 funds to pay for our transportation infrastructure needs. The law says tax revenue that is collected in excess of the 6 percent by which our General Fund is allowed to grow each year must go first to transportation, but Gov. Ritter's budget left transportation out to dry.
- Leverage existing government assets to pay for transportation needs- We need to create a sustainable funding source for our transportation infrastructure. By using Certificates of Participation we can allocate more funding to pay for the much-needed upkeep and expansion of our state's roads and bridges. This plan could generate an estimated $500 million for the state's transportation needs. (Sen. Josh Penry and Rep. Mike May)
- Request an audit of the Colorado Department of Transportation - We need to know exactly where and how our transportation dollars are being spent. Accountability and transparency are required now more than ever at CDOT. (Rep. Randy Baumgardner)