More bad news for Translink: Gas tax revenue continues to freefall.
The latest estimates suggest the transportation authority will end up with millions fewer than it expected from the 15-cent-a-litre fuel tax it charges in Metro Vancouver.
Originally, $ 30-million was needed to fund projects like a rapid bus service over the new Port Mann Bridge.
But now, Peter Fassbender, Langley city mayor and vice-chair of the mayors’ council to Translink, believes Translink will likely have to find close to $ 75 million.
A big part of the reason? Gas tax revenue will continue to drop significantly.
More and more people, he says, are purchasing gas in the Fraser Valley where the gas tax isn’t applied, as well as in the U.S.
Fassbender says only a huge raft of savings uncovered by auditors will allow the region to move ahead with transit projects.
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