The Congressional Budget Office (CBO) analysis of the House version of the surface transportation reauthorization bill found that it could increase the deficit in the Highway Trust Fund over the next five years. The bill would authorize $580 billion for highway and rail programs through fiscal 2031, with $474 billion coming from the Highway Trust Fund.
Key Findings
The CBO analysis found that the cumulative shortfalls expected by the end of 2031 under the bill would be $99.5 billion for the highway account and $48.2 billion for the transit account. The bill aims to supplement the trust fund with new annual registration fees for owners of electric and hybrid vehicles, but it would not touch the main funding source: taxes on gasoline and diesel.
The Transportation and Infrastructure Committee approved the measure with a strong bipartisan vote, 62-2. However, the bill has been awaiting action from the House Ways and Means Committee, which needs to weigh in on how its provisions should be funded.
Original reporting: Texarkana Gazette — read the source article.
