NYT: \"Federal Highway Fund About to Run Out of Money\"

NYT: \"Federal Highway Fund About to Run Out of Money\"

www.nytimes.com

An important account in the federal Highway Trust Fund will run out of money this month, which could hamper completion of road and bridge construction projects across the country, Transportation Secretary Mary E. Peters said on Friday.

“It will worsen the financial crises many states are already facing, and it will delay or halt needed transportation projects and leave contractors and suppliers with I.O.U.’s instead of cash to pay their workers,” Mr. Horsley said in a statement.

(visit the link for the full news article)


Related News Links:
www.dot.gov
www.dot.gov

Congress is blamed a few times in the article and this seems to be another reason for the U.S. decaying infrastructure problems:

The trust fund’s highway account is being rapidly depleted because Americans have reacted to the high price of gasoline by driving less, Ms. Peters said.

The fund gets its money from federal excise taxes on motor fuel: 18.4 cents a gallon on gasoline and 24.4 cents a gallon on diesel. But for months, Americans have been driving fewer miles than before it has been costing them more.

www.nytimes.com
(visit the link for the full news article)

[edit on 5-9-2008 by arktkchr]

Hmm but we have plenty of money to build Iraqs roads and bridges though dont we? So we will borrow or print more money further killing our currency. Its getting sad here in America. Our government has squandered out wealth to the banks and soon we will all be slaves to our governments debt. Hey but keep voting for the 2 party dictatorship they will change things.