Watch It Here: Gov. Snyder to Sign Road Funding Package Today
After almost four years of discussions on how to pay to fix Michigan's deteriorating roads and bridges, Governor Rick Snyder will sign a road funding package into law today.
The legislation was approved last week and includes a 7.3 cent gasoline tax increase and a 20 percent increase in vehicle registration fees. Both of those will go into effect in 2017 and are expected to raise $600 million of the $1.2 billion needed to fix the roads. The remaining $600 million will come from the state's General Fund budget. Legislation also includes an expanded tax credit for lower and middle class homeowners. That is set to take effect in 2018.
The signing begins at 12:30 p.m.