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November 9, 2005 10:40 AM, EST

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ashington state voters on Tuesday rejected a ballot measure that would have overturned a gasoline-tax increase intended to finance $8.5 billion in transportation projects, Reuters reported.

The measure, Initiative 912, would have rolled back the 9.5-cent boost to the state's gasoline tax approved by lawmakers and Gov. Christine Gregoire (D) earlier this year.

With all counties reporting, 52.5% voted against it while 47.5% of voters voted for the measure, Reuters said.

The gasoline-tax increase, phased in over four years, would finance various transportation projects statewide. They are estimated to cost $8.5 billion and would be financed in part by $5.1 billion in state revenue bonds issued over 16 years and backed by gasoline taxes, Reuters said.