Texas Transportation Funding

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Texas Transportation Funding State Senator Robert Nichols.

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Presentation transcript:

Texas Transportation Funding State Senator Robert Nichols

What is the problem with transportation funding? Nichols Senator Robert Nichols What is the problem with transportation funding? What do we need to focus on between now and November 2014? What do we need to do next session?

Traditional Revenue Sources Senator Robert Nichols Traditional Revenue Sources State Motor Fuel Tax Vehicle Registration Fees Federal Motor Fuel Tax

Texas Fleet Fuel Efficiency Senator Robert Nichols Texas Fleet Fuel Efficiency History and Future Forecast MPG Personal vehicles Commercial vehicles

The Cost of Inflation Senator Robert Nichols Fuel Tax Receipts Purchasing Power

Transportation Funding Senator Robert Nichols Transportation Funding Maintenance Construction

( Overhaul existing system ) Senator Robert Nichols Transportation Funding Maintenance Construction Rehab ( Overhaul existing system ) New capacity

( Overhaul existing system ) Senator Robert Nichols Transportation Funding Maintenance Construction Rehab ( Overhaul existing system ) Preservation New capacity

Nichols Senator Robert Nichols $ Preservation Time

Nichols Senator Robert Nichols Traditional Funding $ Preservation Time

$ Time Traditional Funding Preservation New Capacity Nichols Senator Robert Nichols Traditional Funding New Capacity $ Preservation Time

Senator Robert Nichols New Capacity Preservation

Reduced Emphasis on Transportation Senator Robert Nichols Reduced Emphasis on Transportation ’60 33% ‘14 9% In 1960, one third of the state budget went for transportation. Today, it is closer to nine percent.

One Time Funding Sources Senator Robert Nichols One Time Funding Sources 2001 Texas Mobility Fund ($6.9 Billion debt) 2003 Proposition 14 ($6 Billion debt) 2007 Proposition 12 ($5 Billion debt) 2008 NTTA Payment on SH 121 ($3.2 Billion debt) 2009 Federal Stimulus Dollars ($2.6 Billion) Also, $1.9 Billion in outstanding pass through debt Grand Total of $25.6 Billion in one time funding and over $23 Billion in debt

Senator Robert Nichols Solutions?

Senator Robert Nichols Definitions Severance Tax- tax paid on the production value of oil and gas extracted from the ground

Senator Robert Nichols Definitions Severance Tax- tax paid on the production value of oil and gas extracted from the ground Economic Stabilization Fund (ESF)- state savings account created by the voters in 1988. Commonly referred to as the “Rainy Day Fund”, the ESF is funded with the oil and gas severance tax through an annual deposit.

Senator Robert Nichols

Senator Robert Nichols

Senator Robert Nichols

Senator Robert Nichols

Senator Robert Nichols

Senator Robert Nichols

Does not take money out of the rainy day fund. Senator Robert Nichols On ballot November 2014 Immediate effect Does not take money out of the rainy day fund. Does not solve the entire transportation funding problem but is a big step in the right direction.

Sales Tax and Registration Senator Robert Nichols Sales Tax and Registration by biennium Revenue (in billions) Vehicle Sales Tax Registration Fees

Senator Robert Nichols QUESTIONS?

Texas Transportation Funding State Senator Robert Nichols