An increase in South Carolina’s gas tax approved last year could bring in nearly $150 million to fix roads, according to the state’s transportation director.
The State newspaper reports the South Carolina Department of Transportation (SCDOT) estimates roughly $149 million in new money this year. Currently, the department has about $3 billion in projects underway or planned.
Last year, the Legislature overrode Gov. Henry McMaster’s veto of a bill that raised the state’s gas 16 cents per-gallon tax by 2 cents a year for six years and raised other driving fees to generate money to fix the state’s roads.
Once the tax is fully implemented, budget analysts estimate it will bring in about $630 million each year in additional revenue dedicated for road repairs.
SCDOT said cash flow from the higher gas tax is coming in as expected. That money is put into an infrastructure maintenance trust fund used to pay ramped up roads program.