ODOT Finances Solid Thanks to Gas Tax Hike
Ohio’s 10.5 cent gas tax increase from the state’s transportation budget has been in place for four months. And the director of the Ohio Department of Transportation says the money his agency fought lawmakers to get is already making a difference.
Jack Marchbanks says ODOT is on solid financial ground for the first time in years. The gas tax hike will bring in $820 million this fiscal year, and $3.2 billion over the next four years. But Marchbanks says the agency didn’t overshoot in asking for nearly twice that when it first proposed the gas tax increase.
“When we asked for 18 cents early on, that was for a 10-year horizon. So we have great comfort in the fact that we will be able to take care of the system for the next four to five years,” Marchbanks said.
Marchbanks says the funds from the tax increase are helping to deal with 150 intersections and other areas identified as safety problems. Construction is already underway to fix more than 90 of them.