U.S. highway trust fund veers toward crisis

[Sub Atomic]

Source: L.A. Times

WASHINGTON -- Soaring gasoline prices are hurting Uncle Sam in the wallet too.

As motorists cut back on their driving and buy more fuel-efficient cars, the government is taking in less money from the federal gasoline tax.

The result: The principal source of funding for highway projects will soon hit a big financial pothole. The federal highway trust fund could be in the red by $3.2 billion or more next year.

The fund, set to finance about $40 billion in transportation projects next year, is increasingly strained. And the problem has taken on greater urgency as lawmakers face a backlog of projects to maintain the nation's aging interstate highway system and ease traffic congestion.

"The situation has only been exacerbated by rising fuel prices, which are causing motorists to drive less and resulting in less revenue for transportation improvements," said David Bauer, senior vice president for government relations at the American Road and Transportation Builders Assn.





Read more: http://www.latimes.com/news/nationworld/nation/la-na-highway21-2008jul21,0,512955.story

[sam sarrha]

1. that is the plan.. PRIVATIZE THE ROADS--ALL TOLL ROADS--EVERYWHERE gps will

allow them to mail you a monthly bill for miles driven on the roads, if you cant pay, your car will be electronically disabled and towed away. if you then lose your job, you will be provided with one in a copper mine in Uganda to aquire some electronic credits..

[Earth_First]

2. That's a pretty hard-core crystal ball n/t

[Tutonic]

3. LOL. Thanks.

[spag68]

4. Don't forget

The idiot McSame wanted to give up 4 months of the gas tax, which would have hastened the collapse of the road system.

[skids]

5. Yeah they should index that tax to gas prices...

...because not only is it hammered by the cutback, it is hammered by inflation too. The dollars in that fund are not worth what they used to be. Concrete costs real money, not funny dollars.