Keeping Texas in Business
Texas has a long legacy of good roads Symbol of our economic prosperity, attracting jobs and people to the State In part, our congestion is a byproduct of the state’s “wide open for business” successes
Transportation in Texas is stretched to the limit, and the news gets worse Don’t let those orange barrels fool you In 2015, we will be out of money for new roads
At stake is the economic health of Texas INCREASED NEW JOBS/ EFFICIENT TRADE BUSINESSESSHIPPING
With congestion Without congestion Business Cost of Congestion Distance traveled to connect with customers in 30 minutes Missed opportunity
With congestion Without congestion Business Cost of Congestion Commuting distance for employees in 1 hour Missed opportunity
What do we Know? Transportation funding has not kept pace with demand
How do we pay for our roads? 2014 Revenue Debt financing has now surpassed revenue from the state gas tax
National Comparison How Texas ranks Fuel Taxes Vehicle Registration Fees Cost of Vehicle Ownership 29 th 19 th 44 th high low high low high low
What’s the problem? $2.1 billion in truck freight moving costs Congestion in Texas each year 472 million extra hours of travel time $10.1 billion in delay and wasted fuel costs
How did we get in this hole? It’s all about supply and demand 125% 172% 19 % 238% populationvehicleshighway usehighway space
How did we get in this hole? Financing for our roads is stuck back in the last century $1.10 $3.08 Gallon of gasoline Fuel Tax Portion $
How did we get in this hole? Financing for our roads is stuck back in the last century $1.12 $3.41 Gallon of Diesel Fuel Tax Portion $
Since 1991, the cost of everyday goods has about doubled How did we get in this hole? So has the cost of building roads
Purchasing Power of the Motor Fuels Tax Tax Rate Adjusted by Inflation in Roadway Construction Costs
The Downside of Fuel Efficiency
What do we Know? Mobility will get worse –How much worse? – Depends on how much effort to address the problem
What do we Know? The Cost of Doing Nothing is High!
–Capital expansion doesn’t happen overnight –Maintaining current assets is imperative Just as in your Business Texas
$270 Billion investment to keep congestion in Texas from getting worse $1 Trillion economic cost if we spend at current levels Over the Next 25 Years Why it Matters…
Comprehensive Development Agreements? Vehicle Mile Traveled Fee? Local Transportation Taxes? Drive Less? Move Somewhere Else? What’s Next? Increase the Fuel Tax? Index the Fuel Tax? Increase the Registration Fee? Toll Roads? Public/Private Partnerships?
Is “doing nothing” really an option?
BE BETTER INFORMED | BE MORE INVOLVED | VOICE YOUR CONCERNS If you want a change