The Highway Trust Fund patch approved by Congress bought some time for the HTF, but the threat of a shortfall in 2015 remains a harsh reality according to the Congressional Budget Office, when it released its Budget and Economic Outlook, Aug. 27.
The office projects that the highway balance will fall about $2 billion short in 2015 and drop even lower without action by Congress to keep it afloat. Current law requires the trust fund to carry a minimum balance – projected at $4 billion – to make sure it can pay for transportation projects as the price tags come due. Click here for the CBO’s “Projections of Highway Trust Fund Accounts.”
It is important that NSSGA members send a message to their elected officials of Congress that work on highway reauthorization does not end with passage of the HTF funding patch, but continues with the ultimate goal of passing a multiyear bill with a long-term funding mechanism.