DALLAS -- Voters approved more than $200 billion of bonds, tax extensions, and new revenues for roads and transit on Tuesday, with the passage of 69% of the 280 transportation measures on ballots in 22 states.
The widespread approval of these ballot measures reflects the reality of declining federal support for transportation.
"There is no cavalry coming from Washington," said Robert Puentes, president of the Eno Center for Transportation Excellence.
"The initiatives approved on Tuesday also passed by a wide margin," said Alison Premo Black, chief economist at the American Road and Transportation Builders Association. "On average the measures were approved by 65% of voters."
California will see the biggest impact, according to ARTBA's nationwide electoral analysis. Voters in the state approved 15 of 26 transportation ballot measures worth $133 billion.
Ten of the 11 measures that failed in California actually received support from a majority of the voters, but did not reach the required two-thirds threshold needed to pass.
More than $175 billion of the $201 billion of new funding will come from just three successful referendums in Los Angeles, Atlanta, and the Seattle area, according to Moody's Investors service.
"The new revenues in each case are generally credit positive for the transit authorities, because they expand the funds available in these growing and increasingly transit-reliant areas for capital maintenance, system expansion, and operations," said Moody's analysts Christian Ward and Tenzing Lama. "There is, however, some potential downside risk if the new revenues fall short of projections or costs of planned projects exceed projections."
The 49 transit measures on Nov. 8 ballots across the U.S. and their collective total of nearly $200 billion were the largest ever on a single day, according to the Center for Transportation Excellence.
Voters approved 33 of the transit referendums with one still undecided, said CTE executive director Jason Jordan.
Voters have decided a total of 77 transit measures in 2016, which also makes it a record year, Jordan said. So far this year, voters have approved 71% of requests for additional taxes or other transit funding.
"November 8, 2016 was an historic day for public transportation in the United States," he said. "Tuesday's success demonstrates that voters have once again continued their legacy of strong support for local investment in transit options."
In the largest measure approved on Tuesday, the Los Angeles County Metropolitan Transportation Authority is expected to realize up to $120 billion over the next 40 years from a 0.5% sales tax increase that will go up by another 0.5% in 2039.
Voters in several counties of Washington's Puget Sound region approved a 0.5% sales tax increase, a higher motor vehicle excise tax, and a new property tax levy sought by Central Puget Sound Regional Transit Authority.
Sound Transit will use the $54 billion that will be generated over 40 years to extend its light rail line by 62 miles and upgrade its heavy rail and bus operations.
"The vote says people are fed up with not being able to get around and they're ready to fix that problem," said Sound Transit chairman Dow Constantine. "It's been a long, long time coming and we've been able to get building a genuine regional transit system. We're not going to get that opportunity again soon."
Sound Transit said it would issue revenue bonds supported by the new revenue to finance up to 50% of the capital improvement program.
States and local governments are increasingly relying on local resources to fund road and transit projects because federal funding is uncertain, said Puentes.
Only a quarter of the money spent on highways and transit from 2008 to 2012 by all levels of government came from federal funding, he said.
