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6/16/2008
Rail News: Rail Industry Trends
L.A. County transportation sales tax would stimulate economy, local group says
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A new Los Angeles County transportation sales tax would not only help ease traffic congestion, but stimulate the economy in the area, according to non-profit group the Los Angeles County Economic Development Corp.
Transportation projects funded by a new half-cent sales tax would generate $32 billion in local economic activity and create 210,000 full-time, year-round jobs spread over a 30-year construction period, according to the organization. Residents would pay about 42 percent of the sales tax; businesses and tourists would foot the rest.
The Los Angeles County Metropolitan Transportation Authority (LACMTA) board will consider adopting the sales tax proposal at its July meeting. If the measure is placed on the ballot and garners two-thirds approval by voters, the new tax would generate $1 billion annually over a 20- or 30-year period, and finance dozens of transit and road improvement project, the economic development group said.
The tax would help fund LACMTA’s long-range plan, which includes the Westside subway extension, Foothilll Metro Gold Line Extension and a downtown regional connector.
Transportation projects funded by a new half-cent sales tax would generate $32 billion in local economic activity and create 210,000 full-time, year-round jobs spread over a 30-year construction period, according to the organization. Residents would pay about 42 percent of the sales tax; businesses and tourists would foot the rest.
The Los Angeles County Metropolitan Transportation Authority (LACMTA) board will consider adopting the sales tax proposal at its July meeting. If the measure is placed on the ballot and garners two-thirds approval by voters, the new tax would generate $1 billion annually over a 20- or 30-year period, and finance dozens of transit and road improvement project, the economic development group said.
The tax would help fund LACMTA’s long-range plan, which includes the Westside subway extension, Foothilll Metro Gold Line Extension and a downtown regional connector.
