March 3, 2004, - Washington, D.C. Area
Hudson Institute is a co-sponsor of the International Bridge, Tunnel and Turnpike Association's (IBTTA)Transportation Finance Summit in Washington, D.C. on March 3-5. During this summit, transportation financing experts from all over the world will present practical and real-world road financing options that are available to public officials. This summit is especially designed for those responsible for funding, maintaining, or operating road and highway infrastructure at the federal, state, or local level of government. This summit will provide you with practical and workable solutions to meet the very real transportation funding challenges facing you today.
For more information about the Summit or to register, visit www.ibtta.org.
Two of the biggest challenges facing public officials in America today are deteriorating roads and highways and a lack of funding to pay for needed improvements. Since the Interstate Highway System was completed in the early 1990s, we have witnessed a continual decline in the overall condition of our nation’s road infrastructure. There are several reasons for this.
First, the purchasing power of the fuel taxes we now collect – the principal means of highway finance in the U.S. – has declined dramatically since the 1950s. Secondly, vehicle fuel economy has risen dramatically during the same time, so we do not collect the same amount of taxes on a per mile basis as we once did. And third, many officials are unwilling to increase fuel taxes because of intense voter opposition to new or higher taxes of any kind.
One of the major reasons for holding this Summit is the continued uncertainty about the future of fuel-tax-supported financing mechanisms for surface transportation. While the fuel tax will not disappear completely as a source of highway finance, today more than ever we must seriously consider ways to supplement the fuel tax with direct user fees and other funding mechanisms.
During this Summit, transportation financing experts from all over the world will unpack the entire toolbox of road financing options that are available to you. If you are responsible for funding, maintaining, or operating road or highway infrastructure at the federal, state, regional, county, or local level of government, this Summit is for you. This Summit will provide you with real world, practical and workable solutions to meet the very real transportation funding challenges you face today.
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