Senate Finance Committee Begins Work on Short-Term Highway Trust Fund Fix

Posted on: June 27th, 2014 by NADO Admin

This week, Senator Ron Wyden (D-OR), Chairman of the Senate Finance Committee, unveiled a $9 billion package of revenue-raising provisions to keep the Highway Trust Fund (HTF) solvent through December 31, 2014.  The HTF faces a looming shortfall in August when receipts are expected to dip below the $4 billion that needs to remain in the fund in order to ensure day-to-day reimbursements can be made to states.  The Senate Finance Committee held a hearing on the issue on June 26, but postponed a vote on Chairman Wyden’s proposal in an effort to broker a bipartisan agreement.  Senate Republicans would like to see more spending cuts included in the package.  The Chairman of the House Ways and Means Committee, Rep. Dave Camp (R-MI), stated this week that he is considering options for a Highway Trust Fund fix and expects his committee to take action in July.

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