Fiscal Notes gives us the run down on TXDOT’s Transportation plan 2040 highlights 5 funding problems:
- aging transportation infrastructure
- inflation is making it more costly to fix
- greater fuel efficiency means less gas tax revenue
- unreliable funding from a federal Highway Trust Fund
- gas tax revenue will peak in 2030
Texas raised its gas tax last in 1991, what have other states done?
- 31 states have raised their gas tax
- including 4 in 2019
Is there a trend in these gas tax changes? Yes, adopting a variable rate that is changed by some combination of population and economic indicators.