" BOSTON (CBS/AP) – The Massachusetts House and Senate have agreed on a plan to raise $500 million to fund the state’s transportation system.
The plan announced Tuesday rejects a $1.9 billion revenue plan proposed by Gov. Deval Patrick that included a hike in the state income tax to pay not only for modernizing the state’s transportation system, but also for new education initiatives.
The joint House-Senate transportation financing plan announced Tuesday calls for a three cent hike in the state gas tax.
WBZ NewsRadio 1030′s Carl Stevens reports
Legislators believe it will raise $110 million this year. By January 2015 the gas tax would be indexed to inflation.
A $1 increase in the tax on tobacco, cigarettes, cigars and smokeless tobacco products is expected to raise another $165 million.
An expansion of the Computer Services Tax Code would bring in $161 million this year "
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