Millennials, they even drive different.
This key group of Americans is inadvertently creating unsafe conditions on America's roads, according to a new report from Standard & Poor's. That's because this younger cohort is driving less than older groups and driving in more fuel-efficient vehicles when they do.
As a result, their gas consumption is lower so they pay less in federal gas tax, which is pegged at 18.4 cents per gallon. This means they contribute less to the Federal Highway Trust Fund, which helps pay for infrastructure maintenance in states.
"This drop in funds available to construct and repair the country's infrastructure could, in Standard & Poor's Ratings Services' view, weigh on growth prospects for U.S. GDP, as well as states' economies, and, in some cases, where states and municipalities choose to replace the lost federal funds with locally derived revenues, could hurt credit quality," according to the report.
Last month, Secretary of Transportation Anthony Foxx wrote the trust fund could need additional funding from Congress before year end, potentially as soon as November. Many programs funded through it are authorized only through Oct. 29.