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Wednesday, June 3, 2009

CQ Politics | Gas Taxes Fall Short Again, Strapping Highway Trust Fund

CQ Politics | Gas Taxes Fall Short Again, Strapping Highway Trust Fund: "The federal Highway Trust Fund will run out of cash this summer, marking the second year in a row that gasoline tax revenues have failed to meet prior projections and federal spending commitments. ...Congress approved an $8 billion transfer of general tax revenues in September to shore up the Highway Trust Fund, which ran low because revenues from gasoline and diesel fuel have slowed as motor vehicles become more fuel-efficient and Americans drive less because of the economic recession."

According to The WonkRoom:
Currently, 81 percent of the fund’s money is dedicated to highways, while 19 goes toward mass transit.

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