House Approves Highway Trust Fund Patch Through May 2015

Posted on: July 18th, 2014 by NADO Admin

This week, the House approved by a vote of 367 to 55 legislation to keep the Highway Trust Fund solvent through May 31, 2015. The Highway Trust Fund (HTF) faces a looming shortfall on August 1, at which time the U.S. Department of Transportation (USDOT) will slow down highway reimbursements to states. The Highway and Transportation Funding Act of 2014 (H.R. 5021), would add $11 billion to the Highway Trust Fund with revenue generated from pension plan changes, additional custom fees, and a transfer of funds from the Leaking Underground Storage Tank (LUST) Trust Fund. The Senate’s proposal, the Preserving America’s Transit and Highway (PATH) Act, is similar to the House bill in funding size and estimated duration. Its revenue-generating measures, however, are slightly broader than the House bill’s including more changes to tax provisions to arrive at $11 billion additional in revenue for the HTF. Senate Majority Leader Harry Reid (D-NV) has announced he plans to hold a series of votes on a HTF fix including votes on the House bill-passed and the Senate’s PATH Act.

This entry was posted in Latest News and tagged , . Bookmark the permalink.