Chamber Looking For U.S. 95 Money Committee Studying Gasoline Tax Increase, Registration Surcharge

The Coeur d’Alene Chamber of Commerce is looking for ways to pay for rebuilding U.S. Highway 95.

A push to fund the 530-mile blacktop facelift with a statewide gas-tax increase and vehicle-registration surcharge is being studied by the chamber’s Local Government Committee.

The chamber has not taken a position on this financing plan, director Pat McGaughey said.

So far, the best estimate to complete the project is $300 million, committee chairman Scott Poorman said. That estimate, Poorman said, was provided by an Idaho Transportation Department official.

Poorman said the entire project could be financed with a bond. Paid back over 15 years, the annual bond payment would be $30 million.

The annual payment could be raised by increasing the gasoline tax 3 cents a gallon and adding a $10 surcharge to the vehicle registration fee, Poorman said.

The 3-cent increase would push the state gas tax to 24 cents a gallon, bringing it even with Nevada’s and Oregon’s and putting it a penny above Washington’s.

“We have not solidified any of these ideas,” Poorman said. “We are really at this point just gathering information.”

Also undetermined is how long it would take to complete the work.

Poorman guessed it might take as long as 15 years.