Thursday, October 29, 2020
CLOSE
 
Sales Tax Proponents Say Measure Would Pump $79.3 Billion Back into Economy
By City News Service
Published August 12, 2016

MetroLocalnew

Light rail, subway and bus rapid transit construction projects that would be funded by a proposed sales tax plan would result in $51.1 billion of economic output, while another $28.2 billion would be generated through freeway and highway projects during the first 50 years, according to LAEDC analysts. (file photo)

A proposed sales tax measure that would raise at least $120 billion for public transportation projects if approved by voters in November is projected to put $79.3 billion back into the economy, according to a forecast released last week.

ADVERTISEMENT

Metro, the regional transportation agency, shared an analysis by the Los Angeles County Economic Development Corporation detailing the potential economic benefits of the proposed sales tax plan Measure M, including the creation of an estimated 465,000 jobs.

Light rail, subway and bus rapid transit construction projects that would be funded by the tax plan would result in $51.1 billion of economic output, while another $28.2 billion would be generated through freeway and highway projects during the first 50 years, according to LAEDC analysts.

The economic activity from the transportation infrastructure projects would also bring in $9.5 billion in tax revenue for the city, state and federal government, LAEDC analysts said.

Measure M, which will be on the Nov. 8 ballot, calls for a half-cent sales tax increase on top of an existing half-cent sales tax put in place by the voter-approved Measure R. The proposed tax plan also calls for the extension of the Measure R half-cent tax, bringing the total tax to one cent lasting indefinitely.

Categories: Local | News
Tags: | |

Get the Los Angeles Sentinel App!



Since 1933 The Voice of Our Community Speaking for Itself.
87 Years of LA Sentinel.
Black News.
SEARCH:    
Videos


Black Fact of the Day


Photo of the Day

Events

LA Sentinel
in your pocket:





TOS-Cookbook-Web

LA Watts Times

 
© 2020 Los Angeles Sentinel All Rights Reserved • A Bakewell Media Publication

AboutArchivesContact UsCorrections & MisprintsMedia Kit

Terms of ServicePrivacy Policy

LA Watts TimesTaste of Soul

Close / I'm already on the list

Subscribe Today!

Don't be limited anymore! Subscribe Now »

** Existing subscribers, please Login / Register for Digital »

Subscribe to The Los Angeles Sentinel for only $5.99 $3.99 per month, with 1 month free!

Relax in comfort each week as you read the printed newspaper on your own time, delivered weekly to your home or office. This subscription also includes UNLIMITED DIGITAL ACCESS for all of your devices. Includes FREE shipping! One easy payment of $3.99/month gets you:

Subscribe Now »