The Congressional Budget Office (CBO) predicts the House transportation bill will sink the Highway Trust Fund into the red by the end of FY 2021.
The six-year measure calls for $260 billion in federal funding, but according to a report released by the CBO the plan would create a $9.4 billion shortfall in the U.S. DOT’s core account in less than 10 years. The analysis also indicates the newly created Alternative Transportation Fund will drop to $68.9 billion over the same time period.
Rep. Nick Rahall (D-W. Va.), ranking member on the House Transportation & Infrastructure Committee, said the bill “would destroy 550,000 American jobs.”
To view a pdf of the CBO analysis, click here.