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    1. Funding

    Report says House transpo bill spells doom for Highway Trust Fund

    Feb. 14, 2012

    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.

    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.

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