Missouri voters on Tuesday rejected an increase of 10 cents/gal in the state’s gasoline tax. The tax proposal in Missouri’s Proposition D would have raised the state’s gasoline tax from 17 cents/gal to 27 cents/gal over four years. The proposition would also create a fund for road projects and exempt Olympic prizes from state taxes. Missouri voters have previously defeated five proposed gas tax increases and approved three, including the state’s initial 2 cents/gal gas tax in 1924. The proposition increases the tax for gasoline and diesel by 2.5 cents/gal per year by 2022. The tax increase on compressed gas, LNG and propane used as an alternative fuel would take effect in 2026. The measure sets up an equivalent tax rate from all alternative fuels. — Brian Scheid, brian.scheid@spglobal.com — Meghan Gordon, meghan.gordon@spglobal.com — Edited […]