June 12, 2008
New Highway Trust Fund Solvency Plan Proposed – Action Needed
A bipartisan group of Senators today announced a new plan to address the projected Highway Trust Fund revenue shortfall in fiscal year 2009. Earlier this year, the Bush Administration projected a revenue shortfall in the Highway Account of the Highway Trust Fund of about $3.7 billion, which, if not offset, would require a reduction in states’ federal highway funding of about $14 billion or 34 percent below the level guaranteed in SAFETEA-LU for fiscal year 2009. Moreover, given recent government data reporting a historic decline in vehicle miles traveled, due largely to a drop in driving in response to high gas prices, it is possible that revenue into the Highway Account may erode further.
May 8, 2008
Debate on FAA Reauthorization Postponed – HTF Fix Not Completed
Senate Majority Leader Harry Reid (D-Nev.) Tuesday pulled the Federal Aviation Administration (FAA) reauthorization bill from Senate consideration after a failed attempt to end a filibuster over concerns about non-aviation related items in the bill. It remains uncertain at this time whether there will be an attempt to work out a compromise and bring the bill back up for consideration at a later date. Authority for the aviation taxes has been temporarily extended until June.
