Millennials to Blame for Poor Roads? Well, in a Way…
Are millennials really to blame for the poor condition of our roads and highways, leading to thousands of motor vehicle accidents, injuries, and deaths across the U.S. every year? It's not that simple, but a recent report by Standard's & Poor's, a national financial services and information company, finds that older teens and young adults are partially at fault...in a round-about way. This blog post will explain how the report comes to that conclusion, from the perspective of financing highway projects. It's all about tax revenue Federal and state gasoline and vehicle registration taxes are the primary sources of funding for road repairs, paid primarily through the Federal Highway Trust fund. But since 1993, there has been no increase above the 18.4 cents/gallon federal gasoline tax, and states like Georgia are often slow to raise state gas taxes or vehicle registration fees needed for state-funded projects. In the eight years of records…