Highway bond election to be Nov. 8 | Arkansas Blog

Thursday, August 25, 2011

Highway bond election to be Nov. 8

Posted By on Thu, Aug 25, 2011 at 4:21 PM

Talk Business & Politics has the news on Gov. Mike Beebe's plans to call a special election Nov. 8 (I wrote 18th originally) on the highway bond proposal. It won't be a vote on a tax increase. But it would allow continuation of a four-cent diesel tax for new bonds. The bonds borrow against future highway revenue, with a cost in interest, so it's more expensive than paying as you go, but the theory is that you can do more work more quickly.

A half-cent sales tax increase will be on the November 2012 ballot. Beebe has decided not to ask for a vote on a five-cent diesel tax increase to increase the size of the highway bond program.

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