Future Financing Options to Meet Highway and Transit Needs (2006) / Chapter Skim
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-1 Executive Summary The objective of this project is to present options for all levels of government to close the nation's highway and transit investment deficits on a sustainable basis.
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-2 .
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-3 Figure ES.1 BLS Producer Price Index Highway and Street Construction 110 120 130 140 150 160 170 180 190 200 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 January Index 1986=100 Figure ES.2 Highway and Transit Needs and Revenues 2004 C&P Adj + O&M Year Year of Expenditure Dollars (in Billions)
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-4 .
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-5 Table ES.1 Candidate Revenue Sources Modes Scope Yield Highway/Bridge Transit Specific Revenue Tool Pr es er va tio n, M ai nt en an ce N ew C ap ac ity O pe ra tio ns , M ai nt en an ce C ap ita l Pr og ra m Pr oj ec t Po te nt ia la Yi el d Locations Used Fuel Taxes Motor fuel excise (per gallon)
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-6 .
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-7 Table ES.2 Potential Contribution of Short-Term Funding Mechanisms to Federal, State, and Local Highway and Transit Needs Year of Expenditure Dollars Short-Term Funding Mechanisms Revenue Generation 2010 Revenue Generation 2017 Average Annual Revenue 2010 to 2017 Revenue Generation Cumulative 2007 to 2017 Comments Federal Revenue Options to Increase Highway Trust Fund Revenues Index Federal fuel taxes retroactive to 1993 to capture full loss due to inflation $19.4 billion $31.7 billion $25.3 billion $202.6 billion Would result in 10-cent fuel tax increase in 2010 with indexing to CPI thereafter.
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-8 .
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-9 • Vehicle taxes, another mainstay of state highway revenues, are an effective strategy with the potential to raise about $11 billion annually and $100 billion cumulatively through 2017 by: − Increasing vehicle registration rates in concert with inflation; and − Dedicating sales tax on vehicle purchases to transportation.
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-10 .
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NCHRP 20-24(49) – Future Financing Options to Meet Highway and Transit Needs ES-11 Figure ES.3 Annual Gap Closing Potential of Revenue Scenarios Dollars (in Billions)
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