“The American Road & Transportation Builders Association (ARTBA) proposal for raising the gas tax is a pragmatic, much-needed source to fund investments through the Highway Trust Fund (HTF). The gas tax is the fastest and most reliable method to provide desperately needed resources to states for road and rail infrastructure projects. A solution is imperative as the latest extension of funding for the HTF will expire on May 31,” Fitch Ratings said March 19.

The statement came in response to ARTBA’s March 12 rollout of “Getting Beyond Gridlock highway and transit funding proposal.

Fitch is one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission in 1975, together with Moody’s and Standard & Poor’s. The three are commonly known as the “Big Three credit rating agencies.”

Fitch added: “ARTBA’s six-year proposal provides needed multiyear stability to facilitate long-term infrastructure planning after more than a decade of stop-gap measures that have created an atmosphere of instability and inefficiency incongruent with planning for long-lived assets.”

Read Fitch’s full statement.