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Lower fuel prices mean less taxes for Gas Tax funds –
Will Yelm’s Bypass have monies to begin construction in 5 years?

SR 510 – Yelm Loop Location Map, click here for aerial view
Photo credit: WSDOT

With all of the statistics showing that continued lower fuel prices have benefits for consumers and businesses, there is concern from lower-than-expected tax revenue in state coffers from the Gas, a portion of which is to fund the SR 510 Loop (Bypass).

– “Gas prices could drop toward $1 a gallon”
“As oil prices fall, and refinery capacity stays strong, the price of gas could reach $1 a gallon in some areas, a level last reached in 1999.”

“Gasoline prices are driven mostly by four factors: oil prices, proximity to refineries, refinery capacity and state taxes and levies. Oil prices have dropped below $33 a barrel and continue to collapse,” by Douglas A. McIntyre, 24/7 Wall St.
Read more

– From WSDOT about the SR 510 Loop (Yelm Bypass):
Stage 2 construction was funded by the Connecting Washington revenue package approved by the 2015 Washington State Legislature.
State 2 construction is scheduled to begin during 2021.

– Editor’s Note:
If lower fuel prices continue, will the Washington State of Transportation (WSDOT) have enough revenue to begin construction of Yelm’s SR 510 Loop (Bypass) on-schedule in 2021? After-all, the Bypass is lower down on the priorities list compared to the Port of Tacoma & I-5 interchange access, as an example.

An in-depth report of over ten years of history with Yelm’s SR 510 Loop was covered extensively here December 21, 2015.
Click here

Posted by Steve on January 11, 2016 at 6:14 am | Permalink

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