Posted 1/12/2024, 4:20:47 PM
California Faces $4.4 Billion Transportation Budget Gap as Electric Vehicle Boom Erodes Gas Tax Revenue
- California faces $4.4 billion transportation revenue shortfall over next decade due to electric vehicle adoption and decline of gas tax revenue
- State's roads already rated near worst in nation with D grade
- Shortfall preview of issue other states will face as they push electric vehicle adoption
- California leads nation with 25% electric vehicle market share now, heading to 100% by 2035 per new regulations
- Shortfall comes amidst near $38 billion budget deficit projected for 2024-25 fiscal year