Constitutional amendment endorsed for November ballot
Round Rock, Texas – The Round Rock Chamber announced today that it is in support of the constitutional amendment related to an increase in secured funding for the state highway fund. The amendment, referred to as number seven, is the last of seven proposed amendments that will be on the November 3 ballot.
The amendment dedicates certain sales and use tax and motor vehicle sales, use, and rental tax revenue to the state highway fund. It is estimated to add $2.5 billion of state sales and use tax revenue once a $28 billion threshold is exceeded as well as add another thirty-five percent of state motor vehicle sales, use, and rental tax revenue once a $5 billion threshold is exceeded. The funds can only be used for constructing, maintaining, or acquiring rights-of-way for nontolled roads.
“With the Agenda for Economic Vitality [link] and our 2015 legislative agenda, we have repeatedly advocated for more vigorous and consistent road-building dollars due to their significant impact on our economic-generation efforts,” said Monica Maher, the chamber’s vice president of community enhancement. “We support proposed amendment number seven because it is a significant step in that direction.”
In announcing its backing of the amendment, the chamber also referenced the exceedance and sunset provisions which provide for flexibility and adaptability during changing economic times.
About the Round Rock Chamber
The Round Rock Chamber is one of the largest and most active business organizations in Central Texas. Its approximately 1,000 investors collectively employ more than 25,000 people in the area. It is also the region’s only accredited chamber by the U.S. Chamber of Commerce. For more information, visit www.roundrockchamber.org.