Statehouse deal could provide $800M to fix SC roads and bridges - FOX Carolina 21

Statehouse deal could provide $800M to fix SC roads and bridges

Posted: Updated:

COLUMBIA, S.C. (AP) -- Legislators say a tentative agreement could provide up to $800 million for road and bridge work across South Carolina.

A three-part compromise approved Monday by a panel of House and Senate members would put up to $141 million in state taxes toward infrastructure in the next fiscal year.

The legislation specifies that $50 million would go the State Infrastructure Bank to fund major projects through borrowing, and $41 million from the state sales tax on vehicles would repair secondary roads. It would use up to $50 million in surplus money for bridge repair.

Borrowing and federal highway matches could push the total to more than $798 million.

The Senate's Republican and Democratic leaders agree the infrastructure compromise was critical for reaching an agreement on the overall budget for 2012-13.

Copyright 2013 The Associated Press. All rights reserved.

Powered by WorldNow
Fox Carolina
Powered by WorldNow CNN
All content © 2014, WHNS; Greenville, SC. (A Meredith Corporation Station) and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.