STC synthesis of transportation funding sources and alternatives in the southeastern states now and in the future.
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2015-03-01
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Abstract:In recent years, the demand for reliable transportation access has increased, but this has been
accompanied by rising uncertainty over funding availability. The precarious fiscal situation
facing many states has ratcheted up pressure on transportation funding regimes. Most states
collect the majority of transportation revenues from sources such as fuel taxes and vehicle
registration fees, while relying on the federal government via the Federal Highway Trust Fund
(HTF) for additional monies. More often than not, fuel taxes have proven the most resilient
source of revenue, yet concerns over increasing fuel efficiency eroding this traditional source of
revenue have emerged. Additionally, the HTF has run a deficit in recent years and legislators
have utilized general funds to replenish it, leaving future federal funding levels uncertain.
Due to these issues, there is an urgent need to examine current transportation funding sources to
determine if they are sufficient to meet current and future transportation revenue needs.
Proposals for alternative revenue and financing mechanisms must be pragmatic and balance a
multitude of issues to ensure the recommended models can 1) be realistically implemented in
current political environments and 2) remain sustainable in both the near- and intermediate terms. This synthesis study examines these issues, presents potential alternative revenue sources,
and gauges the prospects of implementation.
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