TxDOT Needs Ways To Fund Our Highway System
TxDOT officials in January had agreed that the agency needs an additional $4 billion a year to maintain current traffic levels. Texas has increasingly relied on debt financing and tolls to expand the highway system.
State’s transportation funds are coming from 20 cent gas tax and vehicle registration fees, but the strong population growth and rising costs TxDOT is not up with the inflation.
The reason that an additional $200 million a year toward closing that gap for Highway funds,TXDOT wants an estimate to steer about $900 million more per year.
Monday the house were debating on testimonies on several transportation financing proposals, and our Texas’ transportation committee are at the forefront to discuss finding funding for our highway projects.