PHOENIX – California's Democratic leaders announced an agreement on a five-year, $52.4 billion transportation infrastructure spending package.

The plan would raise roughly $5 billion in new annual revenue through a variety of tax increases and fees. It would hike the diesel sales tax and excise tax, raise the gasoline excise tax by 12 cents per gallon, impose a new annual "transportation improvement fee" based on the value of a vehicle, and create an annual $100 zero emission vehicle fee commencing in 2020.

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