Construction spending during October 2018 was estimated at a seasonally adjusted annual rate of $1,308.8 billion, 0.1 percent below the significantly downward revised September estimate to $1,310.8 billion. The October figure is still 4.9 percent above the October 2017 estimate of $1,247.5 billion. The decrease occurred in private sector spending (down nearly $4.3 billion, most of it in residential), while public sector sending held close to September levels, aided in part by the start of a new fiscal year for the federal government. During the first ten months of this year, construction spending amounted to $1,096.4 billion, a solid 5.1 percent above the $1,043.6 billion for the same period in 2017.  Read more HERE.

While the overall number of successful ballot measures aimed at funding transportation projects remained about what has been seen in past elections (approximately 75% success rate), mounting resistance to spending plans is showing up in higher negative or no votes.  This is most apparent in the largest ten measures (in terms of total dollars), where only half of them passed for a combined $26 billion (with 92% of those dollars accounted for by only two FL measures), and those failing worth $22 billion.

There may be a number of factors involved, not the least a general lack of trust in government, but there is also some evidence that use of the funds collected are being diverted.  In a 2010 Reason Foundation policy study it was estimated that nearly a quarter (23.3%, and likely higher since the study) of all Highway Trust Fund user-tax dollars were being diverted to what can be called “non-highway” uses.  This phenomenon is not isolated to federal dollars as determined by a Cato Institute study that found many state user-tax funds are also being used for purposes not strictly defined as highway needs.  While diversion of funds may seem harmless and even convenient, they may have undercut the general public’s appetite for spending measures and hurt the overall trust that the funds will be spent on their intended purpose.