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April 16, 2014

Feds say highway funding spigot is about to run dry

  • The 18.4 cents-a-gallon federal gas tax was last increased in 1993.
    • By JOAN LOWY
    Associated Press

    DAYTON, Ohio — On the road in a tour bus this week, the U.S. transportation secretary is spreading some bad news: the government's Highway Trust Fund is nearly broke. If allowed to run dry, that could set back or shut down projects across the country, force widespread layoffs of construction workers and delay needed repairs and improvements.

    Anthony Foxx kicked off an eight-state bus trip in Ohio to whip up public support for congressional approval of legislation to keep federal transportation aid flowing to states for another four years, and possibly longer. But Congress will have to act fast. The trust fund — the source of much of the aid — is forecast to essentially run dry sometime before the end of the federal fiscal year Sept. 30, and possibly as early as late August.


     
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