Unless Congress acts, funding for transportation projects will run out by the end of July.
In the final days of the 84th Texas legislative session, lawmakers made a long overdue, multibillion-dollar commitment to the importance of transportation, with sources of road money approaching the $5 billion-per-year goal lawmakers set for roadway funding in Texas. It is time for Congress to follow suit on the federal level.
Why does the Highway Trust Fund matter? The fund reimburses states for the cost of highway improvements and mass transit projects. This is paramount, as a special transportation committee of Texas business and civic leaders, working with the Texas Transportation Institute, recently calculated Texas’ unmet transportation needs at $5 billion annually.
Why does failure to extend the fund matter? There are four primary reasons:
• Transportation projects boost local economies.
• Poor transportation infrastructure hurts our global competitiveness.
• Congestion raises the cost of doing business.
• As a result, good jobs are not created.
The average Texan loses $1,000 and 44 hours every year due to congestion. The booming growth that Texas is experiencing further necessitates the need for this investment in infrastructure. This economic growth is good for our families and communities, but it also strains our roads and other critical infrastructure as the state continues to boom. Our organization estimates another 18 million Texas vehicles by 2040. Without the proper investments, gridlock and roadway safety will worsen and our economy and quality of life will suffer.
At least five states already have delayed the construction of transportation projects because of the uncertainty of federal funding. The Trust Fund faces a shortfall of $169 billion over the next 10 years, according to the Congressional Budget Office.
The Obama administration has proposed a six-year extension at a cost of $478 billion, but mostly pays for it by taxing corporate profits currently stored overseas, which is likely a nonstarter for many Republicans. Solutions for funding the Trust Fund, like raising the gas tax, are politically tough, even with gas prices down near $2 a gallon. The gas tax hasn’t been raised since 1993, and greater fuel efficiency mean cars drive farther for less gas tax revenue, which puts a strain on our highway system.
A negotiated solution is urgently needed. I was encouraged to hear Speaker of the House John Boehner say earlier this year that funding highway improvements is “critically important.” Our transportation infrastructure should be a top priority because responsible investment in transportation infrastructure will lead to stronger economic growth, providing Americans with easier access to jobs.
If you’re tired of being stuck in traffic, keep in mind that Congress can help ease your commute if they act to extend and fund this federal road construction effort.
This should not be a partisan issue. Texans need to encourage their representatives to support funding our transportation infrastructure. I hope the entire Texas congressional delegation votes to support responsible investment in highway improvements.
Scott Haywood is president of Move Texas Forward, a nonpartisan organization that educates and informs Texans about the importance of funding transportation infrastructure.
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