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Long-term Revenue and Expenditure Picture of the Highway Trust Fund

Long-term Revenue and Expenditure Picture of the Highway Trust Fund. Peter “Jack” Basso Chief Operating Officer American Association of State Highway and Transportation Officials. The Looming Crisis. Inflation Impact. Restoring Purchasing Power. International Trade Growth. Revenue Picture.

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Long-term Revenue and Expenditure Picture of the Highway Trust Fund

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  1. Long-term Revenue and Expenditure Picture of the Highway Trust Fund Peter “Jack” Basso Chief Operating Officer American Association of State Highway and Transportation Officials

  2. The Looming Crisis

  3. Inflation Impact

  4. Restoring Purchasing Power

  5. International Trade Growth

  6. Revenue Picture • Highway Trust Fund revenues are NOT declining: • 1995-2005: $22 billion to $38 billion • 2005-2015: $38 billion to $47 billion • Fuel tax is still viable • But purchasing power eroding • Spending has exceeded income

  7. Highway Trust Fund Optionsto Increase Revenues Highway Program Level Made Possible by 2021 • 10 Cent Rate Increase $75 billion • 10 Cent Rate Increase, Indexed to CPI $82 billion • Five Percent Sales Tax on Gas $85 billion (if fuel prices increase 4% annually) • 14.2 Percent Sales Tax on Gas $95 billion in lieu of 28.4 Cent Gas Tax (if fuel prices increase 4% annually)

  8. Questions? Jack Basso jbasso@aashto.org

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