Talk Business & Politics has the news on Gov. Mike Beebe’s plans to call a special election Nov. 8 (I wrote 18th originally) on the highway bond proposal. It won’t be a vote on a tax increase. But it would allow continuation of a four-cent diesel tax for new bonds. The bonds borrow against future highway revenue, with a cost in interest, so it’s more expensive than paying as you go, but the theory is that you can do more work more quickly.
A half-cent sales tax increase will be on the November 2012 ballot. Beebe has decided not to ask for a vote on a five-cent diesel tax increase to increase the size of the highway bond program.