State and local governments provide most of the funding for critical infrastructure systems, but spending has declined over the last 50 years.
Public infrastructure spending from all levels of government totaled $416 billion in 2014—$41 billion (9 percent) less than its peak of $457 billion in 2003.
The Highway Trust Fund (HTF), established by the Federal-Aid Highway Act of 1956, was the first dedicated funding source for highway construction and maintenance. For most of its history, the HTF was well in the black. Over the past fifteen years, however, expenditures have routinely exceeded revenues.
Of the more than 1,800 mass transit systems in the United States—including those running trains, buses, or other transport modes—roughly 2 percent reported that fare revenue exceeded operating expenses in 2013.