Treasurer McCord:  Latest Quarterly Economic Report Focuses on PA’s Transportation Challenges

Harrisburg, PA., Aug. 1, 2011 – With Pennsylvania’s Transportation Funding Advisory Commission offering recommendations on how to support billions of dollars in additional infrastructure support, State Treasurer Rob McCord said the complexity and significance of this issue prompted the Treasury Department to examine it further in its latest quarterly report, which he released today.

The publication, entitled The McCord Report, offers unbiased information on timely topics affecting the state and its economic health. Treasurer McCord said the quality of Pennsylvania’s transportation infrastructure plays a pivotal role in how well the Commonwealth fares economically.

“When it comes to maintaining our transportation infrastructure, Pennsylvanians face considerable challenges,” said Treasurer McCord. “We often hear about the limited funds that are available to build, repair, and maintain our roads and bridges, yet ensuring the high quality of our infrastructure is imperative – not only for the safety of Pennsylvanians and those who travel through our state, but also for promoting a healthy and vibrant economy that supports commerce and creates jobs.”

The Transportation Funding Advisory Commission’s recommendations reportedly could generate and invest an additional $2.7 billion annually for infrastructure work and improvements.

The edition of The McCord Report released today highlights issues such as the number of structurally deficient bridges in the state, the extent to which in-state road quality has changed in recent years, and how the public has altered its travel behavior. The publication looks at current funding sources such as gasoline taxes and vehicle registration fees, and it provides a breakdown of the Commonwealth’s Motor License Fund.

This is the fourth regular issue of The McCord Report. Earlier issues have looked at state revenues, higher education funding, the financial status of Pennsylvania’s two largest public pension funds, employment figures, state debt levels, and the issue of privatizing Pennsylvania’s wine and spirits stores.

To read the latest and past editions, visit www.patreasury.org, and click on The McCord Report graphic on the right hand side.

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Media contact:
Michael Smith
717-787-2991 
news@patreasury.org

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