A new report from the Congressional Budget Office concludes that drastic reductions in transportation spending and/or increases in the federal gas tax will be needed unless another multi-billion dollar bailout is provided for the Highway Trust Fund.
"The Highway Trust Fund won't be able to meet its obligations come 2015, according to a statement by the Congressional Budget Office (CBO) to the House Budget Committee," writes Ryan Holeywell. "Federal lawmakers, the report says, would have to cut transportation spending by 92 percent or raise the gas tax by more than 50 percent in order to bring revenue and spending in line."
"The surface transportation bill, MAP-21, expires at the end of the 2014 fiscal year. The CBO writes that bringing the trust fund into balance after that would require cutting federal transportation spending from $51 billion to $4 billion, raising the gas tax by 10 cents or some combination of the two."
Holeywell notes that, "since 2008, Congress has transferred $41 billion to the trust to keep it afloat, with another $12.6 billion authorized for 2014. Another $14 billion transfer would be needed to prevent the projected shortfall in 2015, the CBO writes."
FULL STORY: Just How Screwed is the Highway Trust Fund?
Biden Proposes Gas Tax Holiday to Reduce Gas Prices
President Biden asked Congress on June 22 to suspend federal fuel taxes, unchanged since 1993, for three months to provide motorists 'relief' at the pump. Additionally, he asked states to follow suit and for oil companies to increase refining.
Time for a Federal Gas Tax Holiday?
Senate Democrats introduced legislation to lower gas prices by suspending the federal gas tax through the end of the year. General funds would be directed to the Highway Trust Fund to replace gas tax revenue.
Funding Biden's Infrastructure Plan: Should Users or Corporations Pay?
After determining the size and scope of President Biden's infrastructure package, the next biggest challenge is determining how to pay for it. The partisan divide is steep, but Roll Call exposes division within the Democrats' ranks.
2024: The Year in Zoning
Cities and states are leaning on zoning reform to help stem the housing crisis and create more affordable, livable neighborhoods.
NACTO Releases Updated Urban Bikeway Guide
The third edition of the nationally recognized road design guide includes detailed design advice for roads that prioritize safety and accessibility for all users.
Research Affirms Safety of ‘Idaho Stop’
Allowing cyclists to treat stop signs as yield signs does not negatively impact safety and can help people on bikes more effectively navigate roadways.
Altadena’s Resilience: Restoring a Fire-Ravaged Community
The Eaton Fire has devastated Altadena, destroying homes, cultural landmarks, and community institutions, while residents rally to rebuild and preserve the town's rich history, diversity, and neighborly character.
Chicago Transit Leaders Call for $1.5B Funding Package
Public transit across the Chicagoland region could suffer massive cuts without additional funding.
After the Fires: Challenges and Efforts to Heal LA’s Parks and Trails
The recent LA wildfires have devastated parks and trails, with recovery efforts requiring extended closures, collaborative restoration plans, and community support to address extensive damage and long-term risks like landslides.
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.
Placer County
Skagit Transit
Berkeley County
Chaddick Institute at DePaul University
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service
City of Cambridge, Maryland