What happened: During a Jan. 9 meeting of Charlotte-area business leaders, North Carolina House Speaker Rep. Tim Moore (R-Cleveland) and Senate President Pro Tempore Sen. Phil Berger (R-Rockingham) discussed the need to revamp transportation funding amidst revenue shortfalls. Moore and Berger highlighted how state motor fuels tax revenues have not kept pace with population growth. Moore noted that transportation policy “must be based on metrics and data” and added that “we really need to be looking at road construction” when considering how the state should allocate its funding. Berger emphasized that increasing funding for transportation is a bipartisan issue and that the Senate will continue to find solutions. A spokesperson for Berger also highlighted expanding the types of purchases that provide tax revenue for transportation projects (e.g., permitting transfer of state sales tax revenue for transportation projects) as a way to ease financial pressures.
Why it matters: In September 2021 ARTBA-TIAC reported on a 10-year funding analysis that showed the state was $13.3 billion in the hole for what was needed to complete planned projects outlined in the State Transportation Improvement Plan (STIP). This followed a January 2021 study by the NC First Commission recommending a $20 billion investment increase over 10 years to fund STIP projects.
What’s next: North Carolina’s legislative session began Jan. 11. Visit ARTBA-TIACs state legislative dashboard to monitor ongoing developments.