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O'Malley releases transportation funding bill

Monday - 3/4/2013, 9:13pm  ET

Associated Press

ANNAPOLIS, Md. (AP) -- Gov. Martin O'Malley has released a measure that includes an increase in overall gasoline taxes and other components to raise hundreds of millions of dollars annually in new money for transportation.

O'Malley outlined the plan Monday night, with Senate President Thomas V. Mike Miller and House Speaker Michael Busch by his side at a news conference.

The plan would apply a new sales tax on gasoline, starting with 2 percent in July and 4 percent next year. It also would reduce the current excise tax on a gallon of gas by 5 cents, from 23.5 cents to 18.5 cents. The plan would then index the excise tax to the consumer price index to adjust for inflation.

Maryland has terrible traffic congestion and a growing backlog of transportation projects.

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