fund News Updates

Four U.S. senators leading the debate for a long-term transportation bill said that they have reached a bipartisan agreement on the broad principles for legislation they will begin working on after the Easter recess.

Transfers to the federal Highway Trust Fund from the general fund would have to be offset by savings in accounts elsewhere in the budget, under a proposal offered by House Budget Chairman Paul Ryan (R-Wis.).

Business, labor and state transportation officials pleaded last week with Congress to find both immediate and long-term fixes for the Highway Trust Fund, which is expected to be insolvent by late summer.

The Congressional Budget Office said its projections show that the Highway Trust Fund will have insufficient funds to meet its obligations starting in fiscal year 2015, the first day of which is Oct. 1.

Members of a House subcommittee heard testimony on funding freight transportation networks, including the experience of state transportation departments in Maryland and Virginia.

For countless years, we have written about the United States’ dire need of a long-term transportation funding source.

In another sign of the drastic actions many states are taking to deal with shortages in road funding, Texas has begun turning 83 miles of paved roads to gravel.

WASHINGTON — The Congressional Budget Office last week presented a grim picture of an insolvent Highway Trust Fund to the House committee that oversees highway policy, but there was little discussion of possible solutions.

WASHINGTON — A congressional subcommittee received a grim picture Tuesday of what lies ahead for the Highway Trust Fund if Congress and the White House do not find a way to pay for transportation before the fund is declared insolvent in 2015.

A transportation funding proposal unveiled by Pennsylvania lawmakers last week would raise $2.5 billion by changing how the state collects transportation money, including eliminating the cap on the state’s wholesale fuel tax.