ISSUES
A national decline in the average wholesale price of gasoline has resulted in a $200 million dollar recurring annual loss for Kentucky’s Road Fund. That annual loss continues to compound, putting Kentucky’s infrastructure and road network needs further and further behind. What does this mean for Kentucky’s traveling public? Routine maintenance such as routine pavement resurfacing, safety improvements to straighten dangerous curves in our roadways and needed bridge maintenance are not getting done.
Here are a few more areas of concern facing Kentucky’s Road Fund:
Starting in 2021, Kentucky will lose $110 million in toll credits that served as matching funds for federal dollars.
More than $150 million dollars are currently being diverted from Kentucky’s Road Fund for other agencies each year.
The Kentucky Transportation Cabinet, through its new prioritization formula, SHIFT, identified 70 projects of statewide significance that need $7.8 billion dollars in funding. This is in addition to the list of 1,100 other regional projects that have been identified as needed improvements. Both the significant statewide and regional projects would have to compete for the current $2.6 billion in funds — leaving thousands of unmet needs across the state unless something long term and sustainable occurs.
These are just a few of many areas of concern Kentucky’s General Assembly needs to address to move Kentucky forward.
THE TIME IS NOW
This is a crucial time to address our crumbling infrastructure. Approximately 30 other states around the country have taken the initiative to increase their state’s gas tax, update outdated automobile registration fees and addressed hybrid and electric cars to pay their fair share. It is time for Kentucky to do the same!
The time is now for our industry to step up and advocate and educate our law makers. A strong and aggressive Kentucky Highway Industries Political Action Committee demonstrates that the industry and its partners are committed to Kentucky and support elected officials who believe in good solid infrastructure for today and the future.
The KHIPAC and its members appreciate your support. Please donate today and help improve and maintain the Commonwealth’s infrastructure.