Standard and Poor's Credit Research, a financial ratings and information service, published a report on Oct. 19, which claims millennials inadvertently create unsafe driving conditions on U.S. roads.

The report, "Millennials Are Creating Unsafe Conditions On U.S. Roads - But Not In The Way You Might Think," indicates that the lifestyle habits of the millennial generation has impacted the infrastructure and transportation industry. According to the report, the youthful subgroup is less likely to drive and when they do drive they're more likely to use compact vehicles. This has impacted funds allocated to care for the roads.

"In the simplest terms, millennials 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," according to the report.

Millennials are environmentally conscious and possess diminishing desire to drive their own cars, which means they pay less in federal gas tax -- pegged at 18.4 cents per gallon. They effectively contribute less to the Federal Highway Trust Fund, which helps to maintain and build roads and infrastructure in the United States. According to the report, the lack of millennial contribution means there's less money to be fix potholes, build infrastructure and meet other needs that plague the driving public.

"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," said the report.

In September, Secretary of Transportation Anthony Foxx wrote the Federal Highway Trust Fund might need additional funding from Congress before the year's end. Theoretically, some programs may need funding as soon as November because many programs are only authorized through the end of October.

Related