Need for Congressional Action Apparent
This week, the Congressional Budget Office (CBO) this week issued an update to its annual Highway Trust Fund cash flow projections. Based on revenue inflows from various excise taxes (including the motor fuels tax) versus expenditures, both the highway account and mass transit accounts should remain solvent through FY 2020, the last year of authorization under the FAST Act. The projections show, however, that both accounts have insufficient revenue to fund current levels through FY 2021.
The report also shows that $163 billion in additional revenue is needed to keep the Highway Trust Fund solvent through FY2028. While these projects are not surprising, it clarifies the urgent need for Congress to begin addressing the trust fund’s revenue shortfall now.
 For more information, contact Brian Deery at [email protected] or (703) 837-5319.