Sunday, October 24, 2021
72.5 F
Fort Worth

The Open Road

🕐 1 min read

States are facing a roadwork budget crunch as the viral pandemic idles traffic and roads remain less traveled with people hunkering down at home. States spent a collective $78 billion in 2018 on highway repairs according to the Department of Transportation, and many states rely heavily on taxes from gasoline sales and road toll revenue to fund those repairs. California, Texas and other large states rely on that combination to fund more than half their roadwork budgets, according to the nonprofit Tax Foundation. “State departments of transportation are forecasting a significant reduction in state
transportation revenues that will challenge their ability to maintain and operate our transportation system in a way that can support the COVID-19 response,” said Jim Tymon, executive director of the American Association of State Highway and Transportation Officials. The AASHTO forecasts a 30% drop in state transportation revenue over the next 18 months, and has asked Congress for nearly $50 billion to help offset the decline. The Energy Information Agency expects gasoline consumption to fall by 1.7 million barrels this quarter to 7.1 million barrels a day.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate