Highway Trust Fund in Trouble
February 3, 2011 – Folks, the Highway Trust Fund is running dry. And something has to be done about it soon. According to NSSGA, the nonpartisan Congressional Budget Office released its annual Budget and Economic Outlook report for the next 10 fiscal years, which includes an updated assessment of the Highway Trust Fund. In its previous report last summer, CBO projected the Highway Trust Fund’s Highway account to be solvent through the end of fiscal year 2013. But the revised estimate now suggests the account may be unable to meet obligations in a timely manner sometime during fiscal year 2012. Congress authorized General Fund transfers of $8 billion in fiscal year 2008, $7 billion in fiscal year 2009 and $19.5 billion in fiscal year 2010 to ensure Highway Trust Fund solvency until the hoped-for-passage of a surface transportation reauthorization bill.
Published: Thursday, 03 February 2011 11:47
Read more: Highway Trust Fund in Trouble