DENVER (AP) — Colorado lawmakers introduced legislation Wednesday to ask voters for an increase in the state sales tax with the goal of generating up to $3.5 billion to improve roads and decrease traffic congestion. The bill, sponsored by House Speaker Crisanta Duran, D-Denver, and Senate President Kevin Grantham, R-Canon City, would raise the statewide sales tax to 3.52 percent — or three and a half cents on a dollar — from 2.9 percent, The Denver Post reported (https://goo.gl/ZSUX73 ). To offset a portion of the tax increase, the measure would decrease vehicle registration fees by $75 million a year. The majority of the revenue would cover the payments for a $3.5 billion bond package, allowing $350 million in annual spending.
Source: US News