Tag: funding: Page 5

Roadbuilding

LaHood pushes for 10-cent gas tax hike during St. Louis visit

During a trip to St. Louis, Mo., on Tuesday, former Transportation Secretary Ray LaHood pushed for a 10-cent-per-gallon gas tax increase, St. Louis Public Radio reports. LaHood is visiting the city to promote infrastructure investment and bring awareness to the state of the Highway Trust Fund (HTF), a primary source of funding for state and […]

July 2, 2014

Roadbuilding

Obama pushes for transportation funding during Key Bridge visit

During his visit to the Key Bridge in Washington, D.C., on Tuesday, President Barack Obama urged Congress to quickly pass a highway bill to prevent Highway Trust Fund (HTF) insolvency, The Hill reports. The HTF is a major source of funding for state and local highway projects. However, money in the fund is projected to […]

July 1, 2014

Roadbuilding

DOT to reimburse states as gas tax money rolls in

The projected insolvency of the Highway Trust Fund is inching closer (it’s expected to run out of money next month), and the U.S. Department of Transportation is has been trying to prepare state DOTs. In its latest preparation effort, the U.S. DOT has announced that it plans to make some adjustments to the way it […]

July 1, 2014

Roadbuilding

CBO: $6.6 billion needed in highway account to prevent HTF shortfall through December

About $6.6 billion in revenues would be needed for the highway account to meet obligations through Dec. 31, 2014, Congressional Budget Office (CBO) Director Douglas Elmendorf stated Friday. In a follow-up letter to Sen. Ron Wyden (D-Ore.), Elmendorf also noted that the transit account would require $1.5 billion to meet obligations through the same period. The […]

June 30, 2014

Roadbuilding

Senate panel delays vote on highway bill patch

The Senate Finance Committee has delayed its vote on a proposed short-term patch that would provide funding for transportation infrastructure projects through Dec. 31, The Hill reports. During a markup of the Preserving America’s Transit and Highways (PATH) Act Chairman Ron Wyden (D-Ore.) agreed to delay a vote on his proposed $9 billion plan. Wyden […]

June 26, 2014

Roadbuilding

TRIP: Oklahoma significantly improves infrastructure, but HTF insolvency ‘threatens further progress’

Oklahoma has significantly improved its roads, bridges and highway safety since 2005, but “uncertainty about future federal funding threatens further progress,” according to a report released Thursday by national transportation research group TRIP. The report, “Modernizing Oklahoma’s Transportation System: Progress and Challenges in Providing Safe, Efficient and Well-Maintained Roads, Highways and Bridges,” notes that funding […]

June 26, 2014

Roadbuilding

Fitch: Gas tax hike should be paired with other revenue sources to fund transportation

Fitch Ratings released a statement on Tuesday noting that a gas tax increase needs to be paired with another revenue source to provide the necessary funding for transportation projects. Fitch pointed to the recently-proposed 12-cent-per-gallon gas tax hike as a “positive first step to address transportation funding in this country” but added that “raising the […]

June 24, 2014

Roadbuilding

What lawmakers are saying about highway funding

On Friday, Transportation Secretary Anthony Foxx reminded state departments of transportation that the Highway Trust Fund’s “situation remains dire.” He noted in a letter to state DOT directors that the HTF is projected to run out of money at the end of August — one month before the current highway bill, MAP-21, expires — and […]

June 23, 2014

Roadbuilding

Rep. Webster introduces bill aimed at improving TIFIA program

Rep. Daniel Webster (R-Fla.) has introduced a bill that aims to improve the Transportation Infrastructure Finance and Innovation Act (TIFIA) program, Politico reports. The bill, dubbed the TIFIA2.0 Act, would change the way projects are selected for TIFIA loans by looking at how each project would affect taxpayers. The bill also includes language that would […]

June 23, 2014

Roadbuilding

House Dems could propose highway funding solution involving U.S. multinational corporations

House Democrats are expected to propose a new bill to restrict the ability of U.S. multinational corporations that move their headquarters abroad to lower their tax burden at home, with funding raised by the bill earmarked for transportation infrastructure projects, the Washington Post reports. The bill, supported by Rep. Nancy Pelosi (D-Calif.), would raise approximately […]

June 20, 2014

Roadbuilding

12-cent gas tax hike could pay for transportation projects

With the current highway bill, MAP-21, nearing expiration and the Highway Trust Fund (HTF), the main transportation funding source, projected to shortfall in just over two months, the search is on for a new way to fund transportation infrastructure projects. Two senators have contributed to the search by suggesting an increase of the federal gas […]

June 19, 2014

Roadbuilding

Virginia Commonwealth Transportation Board approves 6-year program allocating $13.1 billion for transportation projects

Virginia’s Commonwealth Transportation Board has approved the state’s Six-Year Improvement Plan, which allocates $13.1 million to transportation improvements over a six-year period, Gov. Terry McAuliffe announced Wednesday. Allocations are divided by category, with $9.9 billion allocated to highway construction and $3.2 billion to rail and public transportation. The program, which begins July 1, includes the […]

June 19, 2014