California's Draft State Highway System Management Plan forecasts a massive $757.7 billion in transportation funding needs over the next decade, focusing on transit investments, local road maintenance, and highway upgrades. The traditional reliance on gas tax revenue is challenged due to declining returns from increased vehicle fuel efficiency and the rise of electric vehicles. This year's report calls for a reformed funding approach as projected revenue of $541 billion falls short by $216.7 billion. The comprehensive outlook also stresses the importance of local road upkeep and transit development, not just the highway system.
The SHSMP identifies a transformative need for California's transportation funding model, urging a shift from a gas tax revenue system as fuel efficiency reduces collections.
The report estimates a staggering $757.7 billion will be needed for statewide transportation over the next decade, highlighting a significant funding gap.
Future needs for California's transportation infrastructure far exceed projected revenue, with the SHSMP estimating a $216.7 billion shortfall over the next decade.
Despite the name, the SHSMP encompasses local road repairs and transit agency needs, emphasizing a broader view of California's transportation system.
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