RALEIGH – The N.C. Senate is expected to pass a tax on car rentals next week to fund renovations in uptown Charlotte. The rent-a-car industry opposes the tax because of its expected cost to rental car customers. Over the next 25 years, customers could pay as much as $70 million — a burden rental car companies think should be spread to all taxpayers.

The latest proposal would increase the tax by as much as 5 percentage points. Charlotte leaders have said they want to boost the tax by 3 percentage points from 11 percent to 14 percent, reported the Charlotte Observer.

“We’re not opposed to the project,” Frank Colonna told the Charlotte Observer. He is the owner of Triangle Rent-A-Car, which has three Charlotte-area locations. “What we’re opposed to is, our customers are the only ones that are going to be paying for it.”

Business leaders are expected to remain in Raleigh for the next week to lobby legislators about the proposal.