The gap between current revenues available for surface transportation and capital needs each year is $137 billion, according to a Congressional commission.
In recognition of the need to discuss a broad range of tools to address this "funding gap," a new report from the American Association of State Highway & Transportation Officials (AASHTO) Center for Excellence in Project Finance outlines a number of options for meeting revenue needs.
This report is a result of a wide-ranging forum held for members of Congress and their staff in September 2010, at the U.S. Capitol Visitor Center. Titled “Funding and Financing Solutions for Surface Transportation in the Coming Decade,” the report reflects discussions that were joined by more than a hundred people and were organized around six sessions that addressed:
- Near- and medium-term funding options for the federal surface transportation programs;
- Expanded applications of current federal financing tools; and
- Best funding and financing practices at the state and local level.
Sen. Ron Wyden (D-Ore.), House Transportation and Infrastructure Committee Chairman John Mica (R-Fla.), Rep. Earl Blumenauer (D-Ore.) and former Pennsylvania Gov. Ed Rendell were among the many public- and private-sector leaders who participated in the forum and contributed to the conference report.
In addition, the AASHTO Center for Excellence in Project Finance has enhanced its website to include a new interactive map with detailed state-by-state transportation data from 1992 to 2008 for:
- State Roadway System;
- Toll Facilities;
- Revenue Sources;
- State DOT Spending; and
- Motor Fuel Taxes.
To view both the forum report and the state-by-state information, visit the AASHTO Center for Excellence in Project Finance website at www.transportation-finance.org.