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The Highway Trust Fund is likely to run into the red by September, according to the latest update from the Department of Transportation. In its most recent monthly status report, DOT shows the fund’s cash balance dipping below zero in late August or the first week of September.
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A bipartisan group of Senators has agreed on the outline of bill to reauthorize the federal highway program. The terms of the deal cover policy principles such as a long-term bill and maintaining existing programs but they do not cover the key question of how to pay for the program.
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The hearing rooms change but the theme remains the same: Congress must find a way to restore the Highway Trust Fund so it can support a robust, long-term federal highway program. That was the key take-away from state and local officials testifying before the Senate Environment and Public Works Committee on Thursday.
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It won’t be easy, but there’s at least a glimmer of a way for Congress to come up with money to fund a longer-term highway bill. The Highway Trust Fund is going to run out of money possibly as soon as August, according to the Congressional Budget Office.
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President Obama and Rep. Dave Camp both suggested one-time infusions to the Highway Trust Fund that is expected to run out of money by September.
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Congress is getting to work on the next highway bill. At its opening hearing on reauthorization on Jan. 14, the House Transportation and Infrastructure Committee heard urgent calls for a bipartisan approach to sustainable funding, a multi-year program and federal leadership.
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The Obama administration continues to send urgent signals that the Highway Trust Fund is in trouble. In remarks Monday to the American Trucking Associations Executive Committee, Peter Rogoff, acting under secretary at the Transportation Department, said the fund probably will run into the red before the program ends Oct. 1.
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Transportation Secretary Anthony Foxx outlined the familiar issues surrounding the nation’s “infrastructure deficit” and added a new wrinkle: DOT will post a monthly update on the balance in the shrinking Highway Trust Fund.
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Stuck in traffic? Have a cell phone? Here’s your chance to turn your wasted breath into a digital complaint that could actually get something done. Building America’s Future, a bipartisan coalition dedicated to reinvestment in infrastructure, today introduced a new mobile phone app that gives motorists a direct link to their elected representatives.
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At a hearing on the Highway Trust Fund Tuesday it was clear that the key House transportation committee has some distance to go before it can achieve consensus on how the fund could be made whole, or even if it should be preserved.
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