u.s. chamber of commerce map-21 reauthorization & the federal highway trust fund janet f....

U.S. CHAMBER OF COMMERCE MAP-21 Reauthorization & the Federal Highway Trust Fund Janet F. Kavinoky U.S. Chamber of Commerce April 15, 2015

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U.S. CHAMBER OF COMMERCE

MAP-21 Reauthorization & the Federal Highway Trust Fund

Janet F. Kavinoky

U.S. Chamber of Commerce

April 15, 2015

U.S. CHAMBER OF COMMERCE

The Time is Now

May 31: MAP-21 expires (again)

Authorization for policy, programs, spending

Sets funding levels

Summer 2015: Highway Trust Fund cash receipts run short

Lettings slowdown

Delays to major projects

Uncertainty affects business outlook

U.S. CHAMBER OF COMMERCE

Federal Roles in Funding, Finance

U.S. CHAMBER OF COMMERCE

Simply to maintain current levels of direct

federal funding for highways and transit requires $91 billion in new revenues over the next six years (2016-

2021).

Required to Maintain Spending

U.S. CHAMBER OF COMMERCE

What Is Needed?

2010 Capital

Spending

Maintain Conditions

/ Performan

Improve Conditions

/ Performan

Highways

Transit

U.S. CHAMBER OF COMMERCE

Three Broad Options Near Term

Cut spending to revenue-supported levels

Maintain or increase through general funds

Identify new and/or increase existing transportation-related taxes and fees

U.S. CHAMBER OF COMMERCE

The Five-Star Revenue Source

Transportation-related taxes and fees

Dedicated, ongoing revenue streams

Sustainable source, structure

Adequate for maintaining or full funding

Federally-collectible

U.S. CHAMBER OF COMMERCE

Long-Term Question: How to Pay

U.S. CHAMBER OF COMMERCE

Vehicle Miles Traveled 1971-2014

U.S. CHAMBER OF COMMERCE

Janet KavinokyU.S. Chamber of [email protected]

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