Economic Research: Millennials Are Creating Unsafe Conditions On U.S. Roads--But Not In The Way You Might Think Credit Market Services: Beth Ann Bovino, U.S. Chief Economist, New York (1) 212-438-1652;
[email protected] Secondary Contact: Geoffrey E Buswick, Boston (1) 617-530-8311;
[email protected] Table Of Contents Road To Nowhere (Baby, You Can) Drive My Car Little Deuce Coupe Freeway Of Love Go Your Own Way No Particular Place To Go I Can't Drive 55 WWW.STANDARDANDPOORS.COM/RATINGSDIRECT OCTOBER 19, 2015 1 1466580 | 302229998 Economic Research: Millennials Are Creating Unsafe Conditions On U.S. Roads--But Not In The Way You Might Think As banks, retailers, and consumer products companies continue their well-documented scramble to court so-called Millennials, the lifestyle choices of this newly adult generation are having a profound effect on a lesser-explored area of the U.S. economy: infrastructure. In the simplest terms, Millennials (which Pew Research defines as Americans born from 1982-2000, and called Generation Y by some) are driving less than older motorists did when they came of age--and when they do get behind the wheel, they are generally in smaller, more fuel-efficient cars. This, in turn, has curbed revenues from the federal gasoline tax, the primary source of funding for the Federal Highway Trust Fund, which is the backbone of the country's surface transportation infrastructure. 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.