A group of mayor in the metropolitan Vancouver area have proposed an increase in the gas tax to develop a fund for a long-stalled transit project.
The two-cents-per-liter tax on gasoline is a new way to fund the delayed Evergreen Line, a $1.4 billion project.
"The fuel tax is part of a proposed funding formula announced Wednesday and designed to generate an additional $70-million per year for transportation authority TransLink, which has an annual budget of about $1.1-billion.
Along with the fuel tax, the proposal includes potential property-tax increases or – the mayors' preferred option – a new long-term revenue source that could involve a vehicle levy or some form of "road pricing" such as tolls.
The proposal follows recent meetings between regional mayors and provincial Transportation Minister Blair Lekstrom, who last month criticized mayors for not coming up with a plan to fund their share of the Evergreen Line."
FULL STORY: Mayors propose gas tax to fund transit line
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