Jun 12 2014
Yesterday, the Congressional Budget Office released a report on the status of the Highway Trust Fund. The analysis confirms that if lawmakers do not act, the Department of Transportation will have to delay reimbursements to states, which pay for the cost of construction. Read the full report.
Following the release of CBO's report, Senator Murray said:
"Yesterday’s report from CBO is just the latest reminder that a crisis in the Highway Trust Fund is a looming threat to states that depend on federal investments to repair roads, bridges, and transit and to businesses and families who depend on safe and efficient transportation. If Congress doesn’t act, projects across the country to ease congestion on highways and to make critical repairs to bridges could be in jeopardy. In fact, states across the country have already started bracing for a construction shutdown, if Congress doesn’t find a solution.
"I believe there is an opportunity to solve this crisis in a way that should have bipartisan support. Our tax code is riddled with wasteful tax loopholes that benefit the wealthiest Americans and biggest corporations, and many of these are loopholes that both Democrats and Republicans have proposed eliminating in the past. Closing just a few of them could shore up the Highway Trust Fund, avoid this unnecessary and preventable crisis, and make the critical investments that states, families, and businesses are counting on."