Sep. 17—Two of the four major sources of revenue for New Mexico’s State Road Fund are projected to decrease dramatically at the same time transportation construction costs skyrocket.
“The combined effect is looking pretty dire for road construction going forward,” Michael Morrison, chief economist for the state Department of Transportation, warned lawmakers Tuesday during a meeting of the Legislative Finance Committee in Albuquerque.
Road construction costs are expected to grow 138% between 2024 and 2050 while overall road fund revenues are projected to shrink by about 14%, he said…