Florida TaxWatch believes the investments in transportation infrastructure provide greater productivity and improved quality of life for all Floridians.
Its new report found that Florida needs to make investments in the state’s transportation infrastructure to keep pace with the influx of residents and visitors. Florida has gotten a lot of mileage out of its system but failing to act now to improve the state’s transportation infrastructure will damage our next generation’s ability to sustain high-paying jobs and maintain a vibrant Sunshine State, according to the independent, nonpartisan, nonprofit taxpayer research institute & government watchdog.
“Twenty-five years ago, Florida TaxWatch research took aim at improving the state’s transportation infrastructure and that research played a role in heightened legislative attention to this critical area. It is time to do it again,†said Florida TaxWatch President and CEO Dominic M. Calabro. “By identifying the issues that need to be addressed and informing the Legislature of the benefits that investment in Florida’s transportation infrastructure can bring, we can make the state’s transportation system the best in the country and ensure that the Sunshine State remains the best place in the nation to work and live.â€
Here are few of the findings:
–Increased transportation spending itself creates jobs and has a large return on investment, as much as $5.60 for each dollar spent.
–Over the next 25 years, the state is facing a $161 billion shortfall between projected revenues and estimated transportation needs.
–The per capita spending on roads by Florida’s state and local governments ranks 41st among the 50 states.
–Florida has not had a major state transportation funding increase since 1990 and the gas tax is proving to be an inadequate source to meet the state’s future transportation challenges.
–Improving fuel efficiency could further reduce state gas tax collections by $3.3 billion below current estimates by 2025.
–Other states are addressing their transportation needs – 24 states have increased funding since 2012.
Read the report here.