31 October 2024

Voters to Decide on $70 Billion in Transportation Measures Across States

Voters to Decide on $70 Billion in Transportation Measures Across States

Next week, voters across the United States will face a significant decision as they consider 300 transportation-related measures on state and local ballots, collectively valued at over $70 billion. This unprecedented investment aims to enhance transportation infrastructure and services nationwide.

According to the American Road & Transportation Builders Association (ARTBA), eleven of these measures could potentially generate $1 billion in revenue throughout the duration of the tax. ARTBA has spotlighted several key measures that could reshape transportation funding in various regions.

In South Carolina, eight counties are proposing to implement or renew a local sales tax dedicated to transportation projects. Similarly, seven counties in Georgia are seeking voter approval for a new or renewed transportation-related sales tax to fund essential infrastructure improvements.

A notable statewide measure in California aims to lower the voter approval threshold for passing bonds and taxes from 66.67% to 55%. ARTBA emphasizes that this change would significantly alleviate the challenges faced by counties, cities, and towns in securing ballot approval for revenue needed to maintain and enhance roads, bridges, trails, and other vital transportation infrastructure.

In Washington state, voters will also weigh in on the future of the state's carbon credit market. A rejection of this measure could adversely affect funding for climate-friendly transportation initiatives, including high-speed rail, public transit, and electrified ferry services.

Meanwhile, voters in Maricopa County, Arizona, will decide on a 20-year extension of a sales tax projected to generate $14.9 billion in revenue by 2045. This funding is crucial for maintaining the region's impressive 30-minute average commute time, which is among the best in large U.S. cities, as highlighted by the Maricopa Association of Governments.

In Seattle, residents will consider renewing a local property tax that aims to raise $1.55 billion for the city's transportation infrastructure. This funding will support projects such as new bike lanes, an improved bus system, and necessary repairs to bridges and streets. Seattle Mayor Bruce Harrell expressed confidence in the city's commitment to enhancing its transportation infrastructure, citing consistent voter support over the past 18 years.

The rapidly growing region around Columbus, Ohio, is projected to raise approximately $6 billion by 2050 for a bus rapid transit system and other infrastructure projects. Notably, Columbus is currently the only city of its size without a rapid transit system, according to the Central Ohio Transit Authority, which has endorsed the levy question. The generated revenue will benefit 40 communities in the area.

In Nashville, Tennessee, one of the largest transit-related proposals involves a county sales tax increase expected to generate $3.1 billion for a bus rapid transit corridor and additional projects.

Historically, transportation and transit measures have garnered strong voter support. ARTBA reports that last year, 88% of transportation investment measures were approved by voters, and since 2014, voters in 43 states have approved 85% of state and local ballot measures related to transportation funding.

Kaynak: Bond Buyer