OLYMPIA — The state would defer sales taxes that are helping drive increases in Tacoma Narrows Bridge tolls under legislation passed by the Legislature this evening.
Senate Bill 6073 would defer sales tax due on the construction of the Narrows Bridge, saving roughly $5.8 million in costs to toll payers each year for six years.
The bill was passed by the House on the same evening the Tacoma Narrows Bridge Citizen Advisory Committee was meeting to review proposed toll increases of more than $1 per crossing. The committee’s recommendations this evening suggest the bill’s passage will save commuters 50 cents per crossing.
“I’m pleased we can do something for the families and businesses that rely on the bridge every day,” said Sen. Derek Kilmer, D-Gig Harbor, who sponsored the legislation. “We can’t prevent increases entirely, but we can make a difference.”
“At a time when people are really feeling pinched, this will give us some breathing room,” said Rep. Larry Seaquist, D-Gig Harbor, who sponsored companion legislation in the House.
“I really appreciate the strong support of the Governor and our legislative leaders,” said Seaquist. He also praised the work of the Citizens Advisory Committee. “By watching every penny of the bridge’s budget and cutting expenses, these volunteers have kept tolls lower than projected.”
The state financing plan for the Narrows Bridge originally envisioned tolls rising every two years to meet escalating debt service obligations, eventually rising as high as $6 dollars for both cash payers and Good to Go! transponder users. In addition, the original financing planning deferred the sales tax on the construction of the bridge until 2012, at which point it would be paid in annual installments for the next decade.
The need to make those sales tax payments, along with the escalating debt service payments and lower-than-projected traffic volumes, have driven the Citizen Advisory Committee to review the size of the toll increases.
Today tolls are $2.75 for customers using transponders, $4 for those who stop at tollbooths, and $5.50 for drivers who are photographed using the bridge without a transponder or paying at the booths.