Senate Panel Discussed Highway Trust Fund Patch
The Senate Finance Committee considered measures June 26 to help boost the Highway Trust Fund, which is in danger of running dry by August.
Sen. Ron Wyden (D-Oregon), committee chairman, had proposed an increase on the cap on vehicles exceeding 97,000 pounds from $550 to $1,100. His plan was supported by Barbara Boxer (D-California), chairwoman of the Environment and Public Works Committee. But Wyden pre-empted debate over the tax in his opening remarks, agreeing to strike the truck tax in exchange for other bipartisan considerations.
Bob Corker (R-Tennessee) had called the plan a “complete sham.” Corker and Chris Murphy (D-Connecticut) have proposed increasing the gas and diesel taxes by 6 cents each year for the next two years. Their bipartisan plan is applauded by the American Trucking Associations. And, Sen. Tom Carper (D-Delaware) proposed an amendment June 25 that would provide annual 4-cent increases in gas and diesel taxes.
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