heyheybooboo
Diamond Member
- Jun 29, 2007
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Gas consumption has dropped for the first time since 1991 resulting in a loss of around $5 billion in federal highway trust fund revenues last year. The lost for the current year will be even greater.
Combined with higher costs for asphalt, concrete and steel the reduction in revenues will most likely bankrupt the highway trust fund and result in the delay of as much as one-third of current projects. There are around $40 billion in federal transportation projects planned for this year.
Bush proposed shifting cash from mass transit to highway projects - pretty much shot down because of an increase in ridership (and because local transportation budgets are also struggling ...). There was a proposal to shift $8 billion from the general fund to the highway trust fund but that was dropped because of deficit concerns (but we can give bankers $350 billion ??).
The federal gas tax is 18.4 cents/gallon.
Combined with higher costs for asphalt, concrete and steel the reduction in revenues will most likely bankrupt the highway trust fund and result in the delay of as much as one-third of current projects. There are around $40 billion in federal transportation projects planned for this year.
Bush proposed shifting cash from mass transit to highway projects - pretty much shot down because of an increase in ridership (and because local transportation budgets are also struggling ...). There was a proposal to shift $8 billion from the general fund to the highway trust fund but that was dropped because of deficit concerns (but we can give bankers $350 billion ??).
The federal gas tax is 18.4 cents/gallon.