Boehner discusses Highway Trust Fund on 60 Minutes

John Boehner.John Boehner.

During a 60 Minutes interview, House Speaker John Boehner urged the importance of finding a long-term solution to the Highway Trust Fund, which is currently scheduled to run out of money in May.

“The biggest problem we have is that the Highway Trust Fund, which is funded by gasoline taxes, continues to shrink as cars get more and better mileage standards, Boehner told CBS anchor Scott Pelley. “So, the money that’s in the Highway Trust Fund isn’t sufficient to meet the infrastructure needs of the country.”

“When the Democrats controlled the House, the Senate and the White House, they couldn’t increase the gas tax,” he said. So what’s left? “We believe that through tax reform [and] a couple of other options that are being looked at, we can find the funds to fund a long-term highway bill. It’s critically important to the country.”

House Minority Leader Nancy Pelosi (D-Calif.) has recently supported raising the country’s gasoline tax. “Gas prices are so low — oil prices are so low — (now) is the time to do it,” she said.