Ned Holmes with TXDOT and Jim Suttles with First American Title
Ned Holmes spoke to
TXDOT future funding needs today at the monthly
ACRP breakfast. Right now funding from gas tax is based on a $ amount per gallon of gas. In the case of Texas that amount is $.20 per gallon. There are no built in increases and this tax has been at the $.20 rate since the early 90's. No one in the legislature is about to approve any increases for
TXDOT for fear of losing votes. Until recently the population growth has added enough to the tax base to offset fuel efficiency but that has now reversed and with mandated fuel efficiency going to 34 MPG in 2030 there will be a deficit.
One remedy is
VMT which is a Vehicle Miles Travelled Fee. How this one is calculated is a big question.
Dick Klein with The Richard Klein Company and Bill McDade with McDade Smith Gould Johnston Mason + Co.
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