Interest rates are low. The economy is strong. This plan will allow us to dedicate money from the three-cent gasoline tax increase to rural highways in Arkansas. Cities and counties will receive 15 percent each from both the diesel fuel tax increase and the gasoline tax increase. The longer we wait, the more difficult and expensive it will be to repair our roads.
Poor roads are dangerous, they slow commerce and they increase road user costs.
The interstate system accounts for only 3 percent of the state highway system but carries about 27 percent of all traffic. It is the gateway to Arkansas and the key part of our transportation infrastructure. Fixing it is vital to continued economic development and increased tourism. We will be able to derive benefit from our tax dollars more quickly. The debt service on the bonds will not outlive the improvements.