TAB Backs a Transportation Funding Solution
Hammond: It is time to get serious about how we fund our roads
AUSTIN, Texas— The Texas Association of Business will push for an increase in the vehicle registration fee in the upcoming legislative session to pay for new transportation projects across the state.
“With a new study by the national transportation research group, TRIP, showing that Texans are wasting $23.2 billion because they are stuck in traffic, we feel it’s time to get serious about funding projects to reduce the traffic jam,” said TAB President and CEO Bill Hammond.
TAB backs a $50.00 increase in the vehicle registration fee and dedicating all of that money to leverage up to $16 billion in bonds to fund the construction of new road projects.
“While no one likes the idea of higher fees, if you look at the TRIP study the cost of doing nothing is far higher,” said Hammond. “We know that the gas tax is bringing in less revenue because of fuel efficiency and we aren’t going to end all of the diversions of money that pay for other programs from the transportation fund at this point. We see the registration fee increase as the only real alternative right now.”
“Unfortunately Robert Earl Keen was wrong, the road does not go on forever, at least not without money to build it. We have to stop talking about how bad the problem is and get serious about finding funding alternatives to address the problem,” said Hammond.