Commentary: The shift to electric vehicles will steadily erode the most significant revenue stream for infrastructure projects — gas purchases.
, the price of reaching our state’s stated goal of 1 million EVs on the road in Illinois by 2030 could result in the loss of $1.1 billion in transportation funding. When combined with expected improvements in fuel economy for gasoline-powered vehicles, the impact on Illinois transportation revenues rises to $4.3 billion.
It is imperative that Illinois policymakers begin to consider new strategies that can address these anticipated future shortfalls. The most straight forward and equitable solution would be replacing the motor fuel tax with a vehicle miles traveled fee .
In the final analysis, the biggest risk of failing to get in front of this issue is the possibility of history repeating itself. Before the adoption of Rebuild Illinois in 2019, Illinois went 10 years without a capital bill or substantive changes to transportation funding.
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