“A boost in the gas tax, gradually rising to 10 cents per litre, could pay for the bulk of an ambitious plan to lay transit lines across the Toronto region, according to a government-appointed panel.
The recommendation is part of another look at how to fund the so-called Big Move, a plan to reduce congestion believed to cost $6-billion annually.
The gas tax increase would start at three cents per litre, which the panel says would cost the average household $80 per year. Each year it would rise by a penny, maxing out at 10 cents, at a per-household cost of $260 annually.
The other sources of revenue the panel is recommending are a 0.5 per cent increase to the corporate tax rate and the redeployment of the HST levied on gas taxes in the Greater Toronto and Hamilton Area.
These moves should raise is $1.7- to $1.8-billion.”
-The Globe and Mail