Running On Empty: Time to Turn Highway Program Back to States
The Washington Times › June 03, 2010
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Summary
The highway trust fund has been running on empty for nearly a year now. All that keeps the program chugging along are subsidies from general revenues.
It wasn't always thus. In fiscal 2000, the trust fund - a repository of federal per-gallon fuel taxes paid by drivers - boasted a $23 billion surplus. But in 2005, the highway reauthorization bill OK'd program spending in excess of fuel tax collections. The rest, as they say, is deficit history.See the full content of this document
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Running On Empty: Time to Turn Highway Program Back to States
Once a moneymaker for the feds, the highway trust fund is now part of the problem of exploding government deficits. And the Congressional Budget Office projects the fund's financial problems will only get worse. Under current legislati...
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