This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Governor Corbett Announces Plan To Address Decades Of Underfunding For Pennsylvania's Transportation Infrastructure









Plan Would Cut Flat Tax on Gas at the Pump by 17 Percent Over 2 years

HARRISBURG, Pa., Feb. 5, 2013 /PRNewswire-USNewswire/ -- Governor Tom Corbett today announced his plan to inject nearly $2 billion of additional funding into Pennsylvania's transportation system.

This investment in Pennsylvania's future increases public safety, drives commerce, creates jobs and provides reliable funding for our transportation needs without leaving the bill to our future generations. 

Corbett made the announcement on transportation funding as part of his statewide budget address.

"Every year, nearly half-a-trillion dollars worth of goods and services move through our state transportation system," Corbett said. "Transportation is the bloodstream of our economy.  If it fails, our economy fails."

Pennsylvania's current transportation funding shortfall has been an ongoing concern that has resulted from inflation, reduced tax income due to more fuel efficient vehicles, and decades of underinvesting.

Left unaddressed, our transportation infrastructure challenges constitute a public safety concern.  Currently, more than 31,000 buses carry 1.5 million children to school on our roads and bridges each day. Corbett's plan will address our needs, ensuring our transportation system remains safe and accessible.

With its limited resources, PennDOT has been able to make progress on restoring or replacing old bridges but it has done so at the expense of roadways. The number of roads in poor condition has risen from fewer than 7,500 miles in 2007 to more than 9,200 miles in 2011. 

"I am proposing two adjustments to the way we provide for our transportation needs," Corbett said. "I am calling on the legislature to pass a 17 percent reduction in the flat liquid fuels tax paid by consumers at the pump.  Second, I am asking the general assembly to begin a five-year phase out of an artificial and outdated cap on the tax paid by oil and gas companies on the wholesale price of gasoline; it is time for the oil and gas industry to pay their fair share of the cost of the infrastructure supporting their industry."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,653.09 -227.27 -1.35%
S&P 500 1,943.57 -26.50 -1.35%
NASDAQ 4,394.71 -68.1920 -1.53%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs