A new report says the state needs to find a significant source of new funding to keep up with increasing demands on Louisiana’s highways and bridges, because budget gaps in the future can’t be filled by existing revenue sources or federal stimulus money. The Public Affairs Research Council says the state faces “looming challenges” with the federal Highway Trust Fund, the state Transportation Trust Fund and the TIMED program.
Jim Brandt, PAR president, says even if the state added $650 million a year in highway funding, it would still take 22 years to clear up the backlog in existing needs — and that’s assuming costs stay the same. PAR recommends that a special committee be formed to study funding options and recommend legislation. To read the report, click here.