A sales tax proposed by the Denver Metro Chamber of Commerce could raise as much as $5 billion for transportation projects, according to the Denver Post.
The sales tax will be on the November ballot statewide.
The chamber has four proposed ballot issues. The first would increase the current 2.9 percent sales tax by a half-cent per dollar; the second proposal would increase the rate by 0.62 cents and the third proposal by 1 cent. These proposals would generate between $2.5 billion and $5 billion.
The fourth proposal would raise sales taxes by a half-cent as well as require the state to contribute $150 million in revenues annually.
All four proposals would contribute toward local and regional road projects and transit projects.
It estimated that Colorado would need $9 billion over 10 years to fix its crumbling infrastructure.
“I think very clearly … people throughout the state of Colorado strongly believe that you need increased funding to address the level of transportation challenges and needs we have,” Kelly Brough, the Denver Metro Chamber president, said.
While business leaders are confident a tax hike is necessary, state politicians are not as convinced.
Last year, a House bill that would have raised the sales tax by 0.62 percentage points was defeated along party lines.