Below is the latest from Metro’s government relations staff on efforts to keep the federal Highway Trust Fund from going into the red; the fund supports road projects and mass transit across the United States. This has been a problem for many years but no solution seems imminent, particularly in an election year.
USDOT Report – Federal Highway Trust Fund Faces Imminent Shortfall
Over the weekend, the U.S. Department of Transportation (USDOT) released their latest projection on the solvency of the federal Highway Trust Fund. According to the USDOT, the federal Highway Trust Fund will encounter a shortfall before the end of Fiscal Year 2014.
The main reason the fund has not encountered a shortfall thus far is because MAP-21, the surface transportation bill adopted by Congress in 2012, authorized the transfer of $9.7 billion from the general fund to the federal Highway Trust Fund.
Congress is currently considering a number of options to address the looming shortfall.
Earlier this year, our Board adopted a support position for H.R. 3636 (Blumenauer) that would keep the federal Highway Trust Fund solvent by increasing the federal gas tax by 15 cents over three years and thereafter indexing the gas tax for inflation. For a link to the USDOT report on the federal Highway Trust Fund’s finances, please click here.
Categories: Policy & Funding