Today, the Bureau of Transportation Statistics (BTS) released the Transportation Public Finance Statistics (TPFS)  with preliminary 2023 data. TPFS provides information on transportation-related revenue and expenditures for all levels of Government, including Federal, state, and local, and for all modes of transportation. 

Coming Soon: BTS will be releasing State by State TPFS numbers. 

As seen in the chart below, expenditures when adjusted for inflation hit a peak in 2020 and declined after that.  While inflation-adjusted expenditures increased in 2023 from 2022 by $25 billion, they are still $32.3 billion below the 2020 peak. The Infrastructure Investment and Jobs Act (IIJA) added to transportation spending, but not enough to make up for high inflation. Annual inflation as measured by the National Highway Cost Construction Index (NHCCI) was 17.3% in 2021, 27.6% in 2022 and 11.9% in 2023.   

What’s new about TPFS?
BTS now releases preliminary statistics each June, and the final data in December, increasing the timeliness of the statistics by six months. In addition to reporting preliminary estimates 18 months after the one-year reference period (e.g., data for the 2023 reference period is published in June 2025), BTS releases final figures 24 months after the one-year reference period (e.g., data for the 2023 reference period is published December 2025). 

TPFS expands upon the existing expenditures and revenues of Government Transportation Finance Statistics (GTFS), by including new data sources, such as the full Amtrak financials. TPFS includes additional categories to address policy questions – including expenditures broken down between capital and non-capital spending, while revenues now show user-based revenues (i.e., transit fares). TPFS also differentiates between Federal cash flows from transportation trust funds separately from general funds.

TPFS Products: 
Homepage
Data Tabulation Tool
Download the full TPFS dataset
TPFS User Guide
TPFS Technical Documentation  

TPFS Visualizations:
Revenue
Expenditure
Revenue and Expenditure

Archived data

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