What do Fracking and Highways in Texas have in common? Well, the success of one will directly impact the repair and construction of the other if Proposition 1 is passed in the upcoming election on November 4th.
The much heralded success of Fracking across Texas has been a boon to the oil industry, employment, and the state’s coffers as well. Couple this with the desperate need for highway infrastructure repair and expansion that comes along with the state’s rapid growth and we have a potential marriage made in heaven. Especially for those folks who are tired of seeing that the solution to every highway problem seems to look like a Toll road.
Proposition 1 on the upcoming Texas ballot is for a yes or no vote on a Constitutional Amendment to allow one half of the revenue derived from the oil and gas production taxes that currently goes to the Rainy Day fund to be allocated to Fund 6 and only used to pay for “constructing, maintaining, and acquiring rights of way for public roadways other than toll roads.”
This seems to me to be a great solution brought about by the benefits of Fracking. It won’t solve all of our highway and infrastructure problems, but it’s a great start. If you want to read more about the Proposition, pros and cons, go to this LINK.