Senator: Highway fund will go broke in August
Barbara Boxer, the chairman of the Senate Environment and Public Works Committee, said at a hearing Tuesday that the administration has told senators the Federal Highway Trust Fund will need an estimated $5 billion to $7 billion to keep current construction projects going.
By JOAN LOWY
The Associated Press
6/2/2009
WASHINGTON— A Democratic senator whose committee oversees highway programs says the Obama administration has warned that the trust fund that pays for highway construction will go broke in August unless Congress approves an infusion of as much as $7 billion.
Barbara Boxer, the chairman of the Senate Environment and Public Works Committee, said at a hearing Tuesday that the administration has told senators the Federal Highway Trust Fund will need an estimated $5 billion to $7 billion to keep current construction projects going.
The California Democrat said an additional $8 billion to $10 billion will be needed to keep the fund solvent through the year ending Sept. 30, 2010.
Transportation Department spokeswoman Jill Zuckman confirmed those figures.
"The administration is working closely with Congress to solve this difficult problem and ensure that states have the resources they need to maintain our roads and highways," Zuckman said.
Declines in driving have reduce federal gas tax revenue.
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