The funding needs of the Texas Department of Transportation (TxDOT) have been reported on in multiple HillCo Client Advisories. The House Select Committee on Transportation Funding met on April 7th and heard testimony from Texas Department of Transportation (TxDOT) officials who spoke on the financial challenges. Officials reiterated, during their testimony, the findings of the 2030 Committee which determined a need to invest $315 billion in today’s dollars between now and 2030 just to prevent worsening traffic and maintain existing assets. TxDOT also noted finance challenges dues to:
- The population increase which leads to demands on the system;
- Inflation;
- Declining revenues in tax collections;
- Increasing fuel efficiency;
- Diversions;
- Pressing maintenance needs; and
- Uncertainly of Federal Funding.
The House Select Committee on Transportation Funding – Subcommittee on Planning & Accountability will meet again on April 27th to hear invited testimony at 10 a.m.
Texas Transportation Commission Chair Deirdre Delisi was recently interviewed by the Tribune’s CEO/Editor-in-Chief Evan Smith, further elaborating on the funding hole TxDOT faces. To hear the Tribune interview, please visit: http://www.texastribune.org/videos/2010/apr/21/road-funding-hole/