Impact of Inaction: $690 Million Hit to Transportation Funds
If North Carolina leaders don’t act soon to stabilize the transportation funding fluctuation, our transportation network could face a $690 million hit to funding, which impacts all 100 counties. The impact of inaction will put too much pressure on our already strained transportation system, negatively impacting thousands of jobs, businesses and future growth.
The NC Chamber has compiled a map that shows the state’s and each county’s potential revenue shortfall if nothing is done to stabilize the current gas tax. Additionally, the map shows the number of structurally deficient bridges in each county. The structurally deficient classification means the bridge requires costly maintenance to remain in service. One in three North Carolina bridges has that classification. These bridges require $5.5 billion in maintenance – a price tag that our state currently cannot afford.
These two numbers, compiled using data available through the N.C. Department of Transportation and referenced on the map, clearly demonstrate the urgency behind stabilization of the motor fuels tax for every community in North Carolina. Senate Bill 20 is an important short-term solution to stabilize transportation funding fluctuation to meet existing transportation infrastructure needs. This bill remains in a conference committee, as legislators negotiate differences between the House and Senate versions. We will keep you updated as things progress.
Beyond this first step, North Carolina needs greater confidence in an efficient process, and ultimately diverse and stable revenue sources to meet the state’s long-term transportation infrastructure demands. The NC Chamber continues to push for comprehensive, long-term solutions to meet the increasing transportation and infrastructure needs of the state, as well as resolving current funding challenges.