publication . Preprint . 2013

Testimony on the Status of the Highway Trust Fund

Kim P. Cawley;
Open Access
  • Published: 23 Jul 2013
Abstract
The current trajectory of the Highway Trust Fund is unsustainable. Starting in fiscal year 2015, the trust fund will have insufficient resources to meet all of its obligations—CBO projects—resulting in steadily accumulating shortfalls.

6. See Department of Transportation, Office of the Inspector General, Highway Trust Fund Solvency (attachment to a letter to the Honorable Judd Gregg, June 24, 2009), http://tinyurl.com/ m92pt4l.

10. Federal spending on surface transportation has accounted for about 25 percent of total government spending on transportation since 2008. Over that time, federal spending has accounted for about 40 percent of total capital expenses on surface transportation at all levels of government. Historically, about 60 percent of state and local spending on surface transportation infrastructure has been for operations and maintenance. For more information, see Congressional Budget Office, Public Spending on Transportation and Water Infrastructure (November 2010), www.cbo.gov/ publication/21902; and the testimony of Joseph Kile, Assistant Director for Microeconomic Studies, Congressional Budget Office, before the Senate Committee on Finance, The Highway Trust Fund and Paying for Highways (May 17, 2011), www.cbo.gov/publication/41455.

11. For a comprehensive discussion of benefits and challenges of congestion pricing, including options for its design and implementation for highways, see Congressional Budget Office, Using Pricing to Reduce Traffic Congestion (March 2009), www.cbo.gov/ publication/20241. See also, Department of Transportation, Federal Highway Administration, 2010 Status of the Nation's Highways, Bridges, and Transit: Conditions and Performance, “Chapter 9: Supplemental Scenario Analysis” (2012), www.fhwa.dot.gov/ policy/2010cpr/chap9.htm#9.

12. For more information on the choices faced by policymakers, see the testimony of Joseph Kile, Assistant Director for Microeconomic Studies, Congressional Budget Office, before the Senate Committee on Finance, The Highway Trust Fund and Paying for Highways (May 17, 2011), www.cbo.gov/publication/41455.

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