Back in September, we reported that the trust fund had to receive an $8 billion bailout. Reuters reports that a second bailout is required to prevent the fund from going broke by August. Sen. Boxer indicates she supports indexing the gas tax.
"We recently learned that the Highway Trust Fund will run out of money some time before August of this year, and will require an infusion of $5 to $7 billion to get through the rest of fiscal year 2009," said Oklahoma Senator James Inhofe, the highest ranking Republican on the Senate Environment and Public Works Committee, at a confirmation hearing for the next federal highway administrator."
"Obama administration officials confirmed the amounts and August timeframe to Reuters, adding they will work with Congress to find a remedy.
In March, Transportation Secretary Ray LaHood pledged that President Barack Obama would not raise the tax, which has stayed at the same level since the early 1990s."
"Administration officials have estimated that an additional $8 to $10 billion is the amount needed to pay immediate cash needs if the overall program is to be maintained at current funding levels through the end of fiscal year 2010," said the committee's chairman, California Democrat Barbara Boxer.
Last month, Boxer told Reuters the gas tax will be included in the broad transportation spending bill Congress is currently drafting. Boxer, who will marshal the bill through the Senate, also said it is "very important" to index the tax to inflation."
Thanks to Bay Area Transportation News
FULL STORY: UPDATE 2-Obama tells Congress US highway fund near empty
House Committee Proposes $250 EV Tax
The fee is higher than the average tax paid by gas-powered vehicle owners.
How Would Project 2025 Affect America’s Transportation System?
Long story short, it would — and not in a good way.
Survey Finds Growing Support for a Mileage Fee Over the Gas Tax
An annual survey by the Mineta Transportation Institute found new levels of support for a change in the way the federal government raises money from, and for, highway infrastructure.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie