|Should State Rethink Way it Funds Roads?|
In the June-July edition of Fiscal Notes, the Comptroller’s office examines Texas motor fuels taxes. Since 1923, the state has relied on these taxes to support the construction, maintenance and repair of Texas’ roads and highways. But since these taxes are based on the volume of fuel sold, ever-increasing fuel efficiency and the rising popularity of electric vehicles pose a challenge for their continuing viability.
In this issue, we also examine equity crowdfunding, which allows private companies to raise funds from small contributions in exchange for equally small amounts of equity in the company, without many of the requirements placed on traditional business investors. Since it became legal in 2014, Texas companies have raised nearly $2.5 million with equity crowdfunding.