WebFeb 18, 2024 · The HTF was initially designed to take in revenue from the federal gas tax and send funds back to states for the construction and maintenance of the interstate highway system. 31 Under the... WebAug 10, 2024 · But the legislation (H.R. 3684) does nothing to change the rate of the gasoline tax—the main source of federal money for highways and transit—which hasn’t increased since 1993.Instead, it creates pilot programs and studies to determine future options. “I believe there so far have been some missed opportunities, one being reform to …
Testimony on Addressing the Long-Term Solvency of the Highway Trus…
WebThe Highway Trust Fund tracks federal spending and revenue for surface transportation. The trust fund has separate accounts for highways and mass transit. Because obligations from the trust fund generally are for capital projects that take several years to complete, outlays reflect projects authorized by Congress in previous years. WebThe Highway Trust Fund also records cash outflows for spending on designated highway and mass transit programs, mostly in the form of grants to states and local governments. In 2024, $45 billion in revenues and interest were credited to the Highway Trust Fund—$39 billion to the highway account and $6 billion to the transit account. novation bass station activation
Alternative Views: The rocky road towards a highway trust
WebMay 24, 2024 · By Adam Andrzejewski. May 24, 2024. The Highway Trust Fund that finances most federal government spending for highways and mass transit is projected to lose an average of $18 billion per year in the next several years. That’s according to the Federal Fumbles report from Republican Sen. James Lankford (Okla.). President Dwight … WebApr 14, 2024 · The Highway Trust Fund has two accounts—one for highways and the other for mass transit—to which certain fuel and other vehicle-related excise tax collections are … WebNov 12, 2024 · Since 1982, thanks to an agreement signed by President Reagan, spending from the federal Highway Trust Fund has followed this formula: 80 percent for highways, 20 percent for public transportation (though in reality, transit gets much less). The logic behind this was that since the Trust Fund’s funding came from the gas tax drivers pay at the ... novation bass station afx