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Officials ask where will US infrastructure funding come from
BUD Wright, executive director of the American Association of State Highway and Transportation Officials (AASHTO), warns that unless the US FAST Act is renewed infrastructure funding will end in 2020.
That's why AASHTO is urging Congress to fix the "broken" Highway Trust Fund (HTF) before 2020, reports American Shipper.
The trust fund is "not going to be able to sustain the current programme" of highway and transit spending once the five-year Fixing America's Surface Transportation (FAST) Act ends, said Mr Wright.
The primary revenue source for the HTF is the federal petrol tax, which hasn't been raised since 1993, when it was increased to 18.4 cents per gallon. As a result, the fund only brings in about US$34 billion annually, compared with the $50 billion the government spends each year on transportation projects.
The shortfall has induced Congress to bail out the HTF with more than $40 billion from the Treasury over the past seven years - money that necessarily comes from borrowing or from other programmes.
That's why AASHTO is urging Congress to fix the "broken" Highway Trust Fund (HTF) before 2020, reports American Shipper.
The trust fund is "not going to be able to sustain the current programme" of highway and transit spending once the five-year Fixing America's Surface Transportation (FAST) Act ends, said Mr Wright.
The primary revenue source for the HTF is the federal petrol tax, which hasn't been raised since 1993, when it was increased to 18.4 cents per gallon. As a result, the fund only brings in about US$34 billion annually, compared with the $50 billion the government spends each year on transportation projects.
The shortfall has induced Congress to bail out the HTF with more than $40 billion from the Treasury over the past seven years - money that necessarily comes from borrowing or from other programmes.
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