Colorado considers sales-tax hike to fund transportation

Colorado legislators Wednesday introduced a transportation funding measure to raise $677 million annually for 20 years for highway and transit projects across the state.

The Denver Business Journal reports that the proposal — which would require voter approval — would be financed through a sales-tax increase. House Bill 1242 is supported by House Speaker Cris Duran, D-Denver, and Senate president Kevin Grantham, R-Cañon City, who now must convince their respective caucuses to support the measure.

The bill contemplates a sales-tax increase of 0.62 percent for 20 years, taking the state tax to 3.52 percent from 2.9 percent.