AASHTO October 20, 2023
Testifying before the Subcommittee and Highways and Transit, Oregon DOT’s Strickler – joined at the witness table by Chad Shirley, Ph.D., principal analyst for the Microeconomics Studies Division within the Congressional Budget Office; Jeff Davis, senior fellow with the Eno Center for Transportation; and Reema Griffith, executive director, Washington State Transportation Commission – explained how tax revenues that have traditionally supported the Highway Trust Fund are no longer adequate to maintaining its solvency.
“The Highway Trust Fund serves as the primary mechanism by which the federal government provides resources to states, local governments, and transit agencies for highway and transit investments,” Strickler explained in his testimony.
“But the Trust Fund, once again, faces a fiscal cliff at the expiration of IIJA [Infrastructure Investment and Jobs Act]. Since 2008, revenues have not kept pace with the expenditures approved by Congress, and more than $275 billion has been transferred into the Trust Fund from the General Fund during this time,” he said.
View the full article: AASHTOJournal.Transportation.gov
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