(OLYMPIA)— House Democrats have unveiled a transportation revenue package that would raise $9.8 billion over the next decade with the help of a 10-cent bump in the gas tax phased in at 2 cents a year for five years, a new annual car tab fee pegged at 0.7 percent of the vehicle’s value and more than $3 billion in new bonds.
Also included is a new $25 fee on bicycles sold for at least $500.
The plan was introduced yesterday by Representative Judy Clibborn of Mercer Island, who chairs the House Transportation Committee.
In addition to $1 billion for both the state and local governments to maintain infrastructure, the package would allocate about $3 billion to help fund new and existing road projects – although not the Alaskan Way Viaduct tunnel replacement in Seattle.
If all the projects are fully funded, House Democrats estimate the proposal would create 56,000 jobs.