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June 26, 2014 9:00 AM, EDT
Senate Panel Discussed Highway Trust Fund Patch
Corker, Wyden/Bloomberg

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.