Construction Industry Fares Pretty Well on State Ballot Initiatives
The outcome of state ballot initiatives, including funding for projects and issues that could affect business, seemed to favor construction interests in most cases, on Nov. 2. With TEA-21 passage stalled in Washington, D.C. and likely to face continued battles in a second Bush administration, transportation funding measures were high priorities in many states, with a total of $28 billion proposed on ballots for state and local projects, according to the American Road and Transportation Builders Association. ARTBA says 55 transportation funding measures appeared on 21 state ballots on Nov. 2, about 40% more than in 2002, with 80% asking voters to "initiate, extend or increase" taxes, ARTBA contends.
But not all measures were successful. About 78% of bond and tax measures passed, but this inclues all 12 bond measures proposed to raise capital for transportation projects.