Peacock Bill Would Move Sales Tax Money to Roads [VIDEO]
State Senator Barrow Peacock talks with 101.7 / 710 KEEL's Robert J Wright and Erin McCarty about his recently introduced legislation that would dedicate the state's temporary sales tax to the transportation trust fund.
Peacock tells KEEL listeners that the transfer of the revenue raised by the slightly less than half a penny sales tax would would be phased in. The sunset clause, which takes the tax off the books in six years, would not be be changed.
More details on Peacock's proposal from watchdog.org:
"Senate Bill 21 by Sen. Barrow Peacock, a Bossier City Republican, retains the tax’s current expiration date of June 30, 2025. But next year, 0.05 cents of the tax would be dedicated to the transportation trust fund. The proportion would increase each year until the entire 0.45 cents would be so dedicated during the final year of the tax’s existence.
At least half of the proceeds would be divided equally among the state’s nine multi-parish highway districts."
The sales tax was the cornerstone of last year's state budget deal, which was passed during last year's session.