Stabilize the Highway Trust Fund
Urge Congress to Immediately Stabilize the Highway Trust Fund
Professional Engineers play a vital role in planning, designing, implementing, constructing, operating, and maintaining our nation's infrastructure systems. The single greatest infrastructure concern in Washington, DC and in states and local districts is the pending insolvency of the Highway Trust Fund. The HTF funds a significant portion of the construction and repair of the nation's surface transportation system. The Highway Trust Fund is financed by an 18.4 cents-per-gallon gas tax, which has not been increased since 1993. The Congressional Budget Office estimates that the purchasing power of those taxes is about 40% below what it was in 1993.
Since 2008, Congress has relied on $54 billion in general fund transfers simply to keep the HTF solvent. With the current surface transportation authorization, MAP-21, set to expire at the end of September, the Senate and the House of Representatives are working on proposals to reauthorize a long-term surface transportation bill. However, the Department of Transportation has alerted federal and state transportation officials to the alarming fact that the Highway Trust Fund will dip below critical levels as early as July. According to the DOT, the HTF is projected to dip below $4 billion this month, slowing down, and in some cases halting, reimbursements to states. The HTF is on track to fall below $1 billion by October of this year.
Allowing the Highway Trust Fund to become insolvent could result in 700,000 lost jobs as the trust fund cannot pay its bills, and 112,000 roadway projects and 5,600 transit projects could be delayed or halted. State DOTs are already slowing and cancelling new projects as they face a tremendous degree of uncertainty with federal reimbursements.
Contact your federal officials today to urge them to stabilize the Highway Trust Fund before it's too late!
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