Highway Trust Fund gets $8 billion boost

The US Senate approved a bill today that will boost the Highway Trust Fund resources by $8.017 billion. According to AASHTO press release, the bill returns $8.017 billion to the Highway Trust Fund that was removed and sent to the General Fund as part of a 1998 budget deal.

U.S. Senator Barbara Boxer (D-CA), Chairman of the Senate Committee on Environment and Public Works remarked.... "What we are doing is simply restoring revenue that was shifted out of the highway trust fund ten years ago when balances were high."

The House is expected to follow the Senate's precedence as early as tomorrow.

Because of high gas prices, Americans have reduced driving and that in turn has resulted in lower revenues to the Highway Trust Fund.

Related Link -

AASHTO Press Release: States react to slowdown in Highway Funds