Foxx's First Goal: Find the Money!
Here are the stark revenue facts:
- "The 18.4 cents per gallon gas tax only brings in about $35 billion per year to the federal coffers."
- Revenue is decreasing due to increased fuel efficiency, more plug-in electric vehicles on the road that use little or no fuel, thus pay no fuel tax, and decreased driving due largely to demographic reasons.
- Moving Ahead for Progress in the 21st Century (MAP-21) "contained approximately $54 billion (sic) spending for road and transit projects by relying on a patchwork of money taken from other areas of the federal budget" to make up for the gas tax shortfall.
- "However, lawmakers in both parties have sworn that there will not be a repeat occurrence in 2014 when Foxx will be trying to steer a transportation bill through Congress.”
Schank adds, “He’s coming into a situation with no revenue and the prospect [for increased funding] is bleak. Without new revenue, there’s limited influence you can have.”