Who can answer this: how much of the gax tax in WA goes to pay off debt? Now, and in the future.
Gas tax revenues must have dropped in the pandemic. How much?
How much will megaproject debt payments limit gas tax for other purposes (e.g. maintenance)
Conversation
I'm asking the question for the same reasons I asked about the convention center. To what extent will boondoggle transportation funding in the past prevent us from funding a response to the coronavirus pandemic? And to what degree can we correct course?
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The gas tax is also taking a hit. Traffic dropped by over 50% at times, and is still down 19%.
wsdot.wa.gov/about/covid-19
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I understand that before the pandemic about 70% of the gas tax available to the state was used to pay down debt. And that % was rising. Is there still enough gas tax for that? After all, bondholders get paid first, approximately $650m a year. tre.wa.gov/wp-content/upl
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And that debt was used for some extremely dubious projects re transportation, indeed dangerous for climate. One is the $3.1B SR 167/SR 509 Puget Sound Gateway Project, identified as top boondoggle nationwide.
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Consider that the 509 extension would bring pollution to low income South County communities, and tens of thousands to cars to the congested 1st Avenue South Bridge - even more burdened now that the West Seatle Bridge is closed.
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Another nationally recognized boondoggle for which we have indebted ourselves is the North Spokane highway
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The last transportation bill went big on highway expansion, $9.7 billion on highway expansion compared to $1.4 billion on maintenance and repair projects.
All of it to very little transportation benefit. Roger Millar, secretary of WSDO, was quoted as saying that WSDOT “spent 75% of its capital budget on expanding roads from 2004 to 2011 and increased lane capacity only by 1%.”
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Here we are, desperately in need of green new deal type spending on transit, walking, biking and maintenance - and the Wall street investors are getting our gas taxes. Time for the Governor and Legislature to stop plowing our money into climate busting highways.
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So and , given the drop in gas tax revenues, how much money is going to pay off debt, and how much will still be available?
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How about the light rail expansion to Tacoma? They already have a train that isn't up to full capacity yet and can add train cars as needed for growth. total waste tax payers money that could go to much more pressing projects.