Texas Approves Transportation Funding
Texas voters overwhelmingly approved Proposition 1 with almost 80% of the vote on Tuesday, Nov. 4, dedicating billions of dollars of oil and gas drilling revenue to the State Highway Fund.
The amendment will allocate up to $1.7 billion in the first year to the highway fund, replacing some bonds that have supported the highway fund for 12 years. The measure is not a permanent solution, but it’s a start in decreasing our $5 billion transportation funding gap.
Now that Prop. 1 has passed, the 84th Legislature will determine the exact amount deposited into the State Highway Fund for Texas Department of Transportation (TxDOT) projects. Once the funds are distributed, many projects will be ready for construction within six months.
Thank you to all the Texas voters who supported Prop. 1. This is a big step toward funding transportation projects without raising taxes, adding debt, or building more toll roads.