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Surface Transportation Funding Crisis: Looming Highway Trust Fund Shortfall and Possible Solutions

This report discusses the urgent need for increased surface transportation funding and highlights the impending funding crisis faced by the Highway Trust Fund. It identifies potential actions to address the transportation needs through 2030 and outlines various revenue options to bridge the funding gap.

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Surface Transportation Funding Crisis: Looming Highway Trust Fund Shortfall and Possible Solutions

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  1. Surface Transportation Funding Jack Basso Chief Operating Officer and Business Development Director American Association of State Highway and Transportation Officials (AASHTO)

  2. Objectives • To outline the needs for the combined levels of government in surface transportation • To describe the looming funding crisis with the Highway Trust Fund • To identify some possible actions to better address the needs

  3. Highway Needs Through 2030

  4. Transit Needs Through 2030

  5. Transit Needs Through 2030

  6. Revenue Picture • Highway Trust Fund revenues are NOT declining • 1995-2005: $22 billion to $38 billion • 2005-2015: $38 billion to $47 billion • Fuel tax is still viable • But purchasing power eroding • Spending has exceeded income

  7. Highway Trust Fund Options toIncrease Revenues Highway Program Level Made Possible by 2021 • 10 Cent Rate Increase $75 billion • 10 Cent Rate Increase, Indexed to CPI $82 billion • Five Percent Sales Tax on Gas $85 billion (if fuel prices increase 4% annually) • 14.2 Percent Sales Tax on Gas $95 billion in lieu of 28.4 Cent Gas Tax (if fuel prices increase 4% annually)

  8. The Looming Crisis

  9. Impact of Inflation

  10. Restoring Purchasing Power

  11. A Vision from the Financing Team What do we want America to have for transportation? We concluded that… • America wants a unified national transportation system that fosters international competitiveness and energy independence, is safe and secure, provides efficient domestic mobility, and enhances the environment.

  12. Revenue Picture • What is being done to address the problems? • SAFETEA-LU created a National Commission • AASHTO has developed a series of reports to address issues • Needs • Recommendations • Funding • Freight • Vision (to come)

  13. Questions? Peter “Jack” Basso Chief Operating Officer American Association of State Highway and Transportation Officials 444 North Capitol Street N.W., Suite 249 Washington, DC 20001 Phone: (202) 624-5800 Fax: (202) 624-5806 Email: jbasso@aashto.org

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