By David Shepardson
In a move to combat the alarming rise in road deaths, the U.S. Transportation Department announced a $1 billion allocation for various projects aimed at enhancing road safety and reducing traffic crashes. This initiative comes as road fatalities continue to soar, surpassing pre-pandemic levels.
According to the latest data released by the department, an estimated 18,720 individuals lost their lives in motor vehicle traffic crashes in the first six months of 2024, marking a 3.2% decrease from the previous year. While there has been a decline in traffic fatalities for nine consecutive quarters, the numbers still remain significantly higher than those recorded before the pandemic.
Among the 350 new awards granted as part of a $5 billion, five-year program funded by the $1 trillion 2021 infrastructure law, Los Angeles is set to receive $29.8 million to implement safety enhancements at 77 intersections, particularly in areas near schools and commercial zones.
Several projects under this initiative are focused on improving safety for pedestrians and cyclists, with Savannah, Georgia receiving $10 million to upgrade 15 intersections with dedicated left turns, sidewalks, crosswalks, and extended bicycle lanes. Additionally, Chicago will benefit from $20 million to bolster safety measures in the North Avenue corridor.
The surge in traffic deaths following the onset of the COVID-19 pandemic has remained a cause for concern, with fatality rates showing a slight decline in early 2024 but still exceeding levels seen in any pre-pandemic year since 2008. Experts attribute this trend to a perceived decrease in law enforcement presence during the pandemic, leading some motorists to engage in riskier behaviors on the roads.
In 2021, U.S. traffic deaths spiked by 10.5% to reach 42,915, marking the highest number of fatalities recorded on American roads in a single year since 2005. Furthermore, pedestrian fatalities in 2022 increased by 0.7% to 7,522, the highest figure seen since 1981, while cyclist deaths rose by 13% to 1,105, the highest number reported since at least 1980.
As an investor or individual concerned about their financial well-being, it is crucial to monitor developments in road safety initiatives and their potential impact on transportation infrastructure investments. The significant funding allocated by the U.S. Transportation Department underscores the importance of addressing the rising road deaths and enhancing safety measures across the country. By staying informed and understanding the implications of these initiatives, investors can make informed decisions to protect their assets and contribute to a safer road environment for all.