Chamber Foundation Transportation Study Shows Funding Shortfalls and Short-Term Financing Options

Shortfalls and Short-Term Financing Options

WASHINGTON, D.C.—The U.S. Chamber's National Chamber Foundation released a new study showing that federal funding would only pay about 50 percent of what is needed to maintain and improve our transportation infrastructure and outlined a series of short-term options to support the federal Highway Trust Fund.

"Current federal funding levels are not enough to maintain our existing roads, bridges, and other transit infrastructure," said David Hirschmann, Chamber senior vice president and executive vice president of National Chamber Foundation, the Chamber's public policy think tank. NCF Commissioned the study, which was released at a Capitol Hill news conference.

"The demand for improved infrastructure is increasing, congestion is getting worse, and Congress needs to take a serious look at alternative funding options for our future transportation needs, said Hirschmann."

"Future Highway and Public Transportation Finance Study," is the first phase of a comprehensive investigation, led by Cambridge Systematics, into alternatives to supplement the federal fuel tax for financing the Highway Trust Fund over the next 30 years. The second phase of the study, to be released in October 2005, will suggest long-term comprehensive funding alternatives to provide for the safe and efficient movement of goods and people.

"We have reached a critical point in the transportation funding debate," said Edward Mortimer, Chamber transportation policy director. "With lawmakers already 19 months late in reauthorizing highway and transit legislation, we need to keep the pressure on Congress and the administration to ensure that this bill has maximum funding."

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector, and region. NCF is the Chamber's public policy think tank that drives the debate on issues critical to business.

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View the executive summary of this study.