Pennsylvania Gov. Edward Rendell Monday proposed implementing a profits tax on oil companies and raising motor vehicle fees to generate more than $1 billion per year to help finance road, bridge, and mass transit needs throughout the state.

The Democratic governor did not include a gas tax increase in his proposal, though he said that he would support any plan that includes enough additional revenue to close a $472.5 million transportation funding deficit for fiscal 2011. Fiscal 2011 began July 1.

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