| This week, the AGC-led Transportation Construction Coalition (TCC) sent a letter to the House and Senate Budget Committees urging them to address the looming insolvency of the Highway Trust Fund (HTF) in their fiscal year 2016 budget resolutions. The budget provides the opportunity for Congress to show their support for addressing the HTF shortfall and working towards passage of a well-funded multiyear transportation reauthorization bill.
Specifically, the letter asked the committees to provide a “reserve fund” for the HTF. The inclusion of a “reserve fund” in the budget would allow for the reauthorization of MAP-21 to be written at funding levels greater than what the HTF can currently support. Such a fund is necessary because the gap between outlay of the HTF and the revenue coming in to continues to be between $12 and $18 billion per year. Congress is working against a May 31 deadline to pass a new transportation authorization bill and provide the revenue necessary to close the funding gap. Both the House and Senate Budget Committees are expected to take up their budgets next week. For more information, please contact Sean O’Neill at oneills@agc.org or (202) 547-8892. Return to Top |
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