2. Congress Runs Next Highway Funding Off the Road

Transport Topics

Speed Read:

With all kinds of options under con­sid­er­a­tion, Com­mit­tee Chair backs off bring­ing fund­ing to vote.

With some com­mit­tee dis­agree­ment, says fund­ing was not the will in Con­gress or the pub­lic.

Drill-Down Details:

  • One option was/is raise fuel tax 15 cent to pay for roads
  • But Com­mit­tee chair took this off the table for now
  • Says econ­o­my not in good shape, so must con­sid­er oth­er options
  • Seek­ing ways to “fill the hole” in the high­way trust fund
  • Options are more off shore drilling, off shore tax­a­tion & miles tax
  • Fed fuel tax is about $38M annu­al­ly
  • Con­gress hopes to pass a 5- or 6-year trans­porta­tion reau­tho­riza­tion bill
  • Fed High­way Admin says we need $20.5 B to fix nation’s roads
  • Fed gas tax of 18.4 cents per gal­lon, passed in 1993
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