Every family, community and business needs infrastructure to thrive. Investing in infrastructure funding is an engine for long-term economic growth. Recently, a law was passed that would provide five years of increased funding for highways and transit systems. However, a long term funding fix is still required.
While America’s infrastructure continues to grow, our nation’s federal funding source for transportation, the Highway Trust Fund, has seen its revenues steadily depleted.
The federal highway tax rates have not changed since 1993—over twenty years.
Historically, federal funding has accounted for approximately 45 percent of what state Departments of Transportation spend on highway and bridge capital improvements.
Congress recently provided five-years of increased highway and transit funding but failed to address the structural fiscal problems of the Highway Trust Fund.