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Tag: Congressional Budget Office
Roadbuilding
Highway Trust Fund spending would reach $280 billion in 2016-2020 via FAST Act
Just days before the FAST Act became law, the Congressional Budget Office (CBO) offered its review of the new five-year, $305 billion highway billâs âbudgetary impactâ and how it would affect the Highway Trust Fund (HTF). The CBO found spending from the HTF under the Fast Act would reach $280 billion from 2016 through 2020, [âŚ]
December 7, 2015
Roadbuilding
Senate Finance Committee hears opposing views on gas tax, emphasis on long-term transportation funding
Members of the Senate Finance Committee were presented with testimony stressing the need for long-term funding for transportation projects, but much like what was heard earlier in the week by the House Ways and Means Committee, the source of funding remains a divisive issue. In his opening remarks, Committee Chairman Orrin Hatch (R-Utah) called passage [âŚ]
June 22, 2015
Roadbuilding
CBO estimates $85-$90 billion Highway Trust Fund shortfall by 2021
The Congressional Budget Office (CBO), at the request of Rep. Sandy Levin (D-Michigan), has projected estimated revenue shortfalls for the Highway Trust Fund (HTF) for two short-tem extensions and one long-term extension, finding the fund will be short by $85-$90 billion in just six years. Levin, a member of the House Ways and Means committee, had [âŚ]
June 2, 2015
Roadbuilding
Dear Congress: Letâs avoid another HTF crisis
The Transportation Construction Coalition (TCC) is urging Congress to pass a new long-term surface transportation measure as soon as possible. TCC says failing to do so will lead to another self-imposed funding crisis would undermine vital road, highway and transit repairs. âWe worked hard to build broad consensus within a deeply-divided Congress for investing in [âŚ]
October 6, 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 [âŚ]
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 Americaâs Transit and Highways (PATH) Act Chairman Ron Wyden (D-Ore.) agreed to delay a vote on his proposed $9 billion plan. Wyden [âŚ]
June 26, 2014
Roadbuilding
HTF 101: How the Highway Trust Fund works
The Highway Trust Fund (HTF) is a major talking point in the highway construction industry right now, especially because the major funding source is likely to run out of money in less than three months. HTF insolvency would mean projects across the nation would not be able to begin and 700,000 workers would lose their [âŚ]
June 12, 2014
Roadbuilding
Senate EPW approves 6-year highway bill; funding questions linger
The Senate Environment and Public Works Committee unanimously approved a six-year surface transportation reauthorization bill Thursday morning. Related: President Obama brings focus to highway bill during National Transportation Week Top committee members Sens. Barbara Boxer (D-Calif.), committee chairman; David Vitter (R-La.), committee ranking member; Tom Carper (D-Del.), chairman of the Subcommittee on Transportation and Infrastructure; and [âŚ]
May 15, 2014
Business
Obama prepares to send $302 billion highway bill to Congress, but will it be enough?
President Barack Obama is preparing to present his proposed $302 billion, four-year transportation reauthorization bill to Congress. Transportation Secretary Anthony Foxx announced on the DOTâs Fast Lane blog that the president plans to send a draft of the legislation to lawmakers, though no specific timetable has been presented. âSoon, the Obama Administration will do exactly [âŚ]
April 24, 2014
Roadbuilding
CBO: Highway Trust Fund would shortfall under Obamaâs proposed budget
The Highway Trust Fund (HTF) would run out of money under President Barack Obamaâs proposed $302 billion, four-year highway budget, according to data released from the Congressional Budget Office (CBO). In addition to allocating funds to various transportation sectors, the bill offers a one-time $150 billion cash infusion. However, the CBO says that is not [âŚ]
April 21, 2014
Roadbuilding
Transportation Talk: Can We Stop a âPainfulâ Transportation Situation?
As the nation continues in a slow economic recovery, we need to ensure the HTF remains solvent.
March 8, 2014
Roadbuilding
Closer to E than F and heading for B
Letâs say you are rolling down the highway and watching the gas gauge on your dashboard as you go. You see it steadily going down. You are aware that it is heading to E. You roll on. It gets inevitably closer to E. You know if you donât stop and fill up it will hit [âŚ]
August 1, 2013
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