MARYLAND — The Maryland Department of Transportation recently released its draft FY 2021 – FY 2026 Consolidated Transportation Program that reveals significant losses due to the coronavirus pandemic. According to the MDOT, the six-year CTP estimates the Transportation Trust Fund lost $636 million in motor fuel, $190 million from titling tax, $183 million from corporate income tax, $174 million from MDOT MTA operating revenue, $146 million in MDOT MAA operating revenue and $100 million from other revenues.
For a six-year forecast period, MDOT anticipates a total six-year revenue decline of $1.4 billion and a decrease in bond sales of $1.5 billion for a total $2.9 billion impact on the Transportation Trust Fund. The department noted that the impact of coronavirus has negatively affected all revenue sources fueling the Transportation Trust Fund and most revenues are not expected to return to their pre-coronavirus 2019 levels until fiscal 2023 or beyond.
Motor fuel tax, which is MDOT’s largest revenue source, took the biggest hit and has been revised downward more than $600 million due to a reduction in both gallons sold and lower prices. Operating revenues for the port, airport and transit decline by nearly $400 million over the six-year period due to steep declines in operations and a slower recovery period. Reduction to bond sales include a $1 billion reduction of bonds to support the capital program and a deferral of $500 million in airport revenue bonds to fund construction of certain improvements at BWI Marshall Airport.
“From day one, our focus has been to keep Maryland’s transportation network moving in a safe way for both the customers and employees,” said Maryland Transportation Secretary Gregory Slater. “Despite the challenges of operating during a pandemic health crisis, more than 10,000 MDOT employees and our private sector partners continued to deliver outstanding customer service in every business unit across the department. As the state’s economy and transportation network begins to recover, this budget focuses on preserving our critical infrastructure and essential connections, continuing all active construction, planning for future projects, and building what we can to further support Maryland’s economic recovery.”