Comptroller Highlights Road Funding. The Intel:
The May issue of Fiscal Notes from the Office of the Comptroller concerning greater transportation infrastructure by the numbers:
- 38% of Texas major roads are poor or fair condition
- 800 million daily vehicle miles by 2040
- 455 million daily vehicle miles in 2014
- 19% of Texas bridges are deemed “structurally deficient” or “functionally obsolete” in 2015
- $2.5 billion of net revenue from the sales tax will be moved to the State Highway Fund beginning in Fiscal Year 2018 (Prop. 7)
- $375 million in highway revenue, 1st transfer of 35 percent of state motor vehicle sales tax revenue above the first $5 billion (Prop. 7)
- $60 billion the amount TXDOT says is needed for urban transportation & border trade projects
The Comtroller publication highlights 4 issues in transportation funding:
- population growth
- deteriorating infrastructure
- rapidly rising road construction costs
- mobility supports commerce & industry
Fiscal Notes | Texas Road Finance (Part I) | May 2016