Nickel Project
The Nickel Project refers to a transportation funding initiative enacted by the Washington State Legislature in 2003. The program's slogan, “It's your Nickel, Watch it Work,” reflects its funding mechanism and commitment to infrastructure improvement.
Funding
The Nickel Project was designed to generate $3.9 billion over a ten-year period to finance 158 transportation projects across Washington. The funding was sourced through:
- Gas Tax Increase — A 5-cent per gallon increase in the state gasoline tax.
- Heavy Truck Fees — A 15% increase in gross weight fees for heavy trucks.
- Vehicle Sales Tax — A 0.3% increase in the sales tax on motor vehicles.
These revenue streams were allocated to the Nickel Account, dedicated exclusively to the specified transportation projects.[1]
Project scope
The 158 projects funded under the Nickel Project aimed to address various transportation needs, including:[1]
- Congestion relief — Allocating $2.6 billion to alleviate traffic congestion in critical areas.
- Safety enhancements — Implementing measures to improve road safety.
- Infrastructure preservation — Maintaining and upgrading existing transportation infrastructure.
References
- ^ a b "2003 "Nickel" funding package | WSDOT". wsdot.wa.gov. Retrieved 2024-12-07.
External links