U.S. DOT predicts August shortfall in latest Highway Trust Fund Ticker update
Amanda Bayhi | April 15, 2014
In its latest update of the Highway Trust Fund Ticker, the U.S. Department of Transportation predicts the HTF to shortfall as early as the end of August.
The HTF provides funding to the majority of projects in the U.S., and the DOT could slow reimbursements to state and local agencies to prevent the shortfall. Additionally, Transportation Secretary Anthony Foxx recently said that if the HTF, along with other problems with the nation’s transportation system, isn’t fixed, it could cost 700,000 jobs.
In the ticker update, the DOT notes that the Highway Account started fiscal year 2014 with about $1.6 billion, and $9.7 billion was transferred from the General Fund.
Since then, the account’s cash balance has dropped by nearly $3.5 billion to $8.4 billion.
For more details, see the DOT’s Highway Trust Fund Ticker here.
MORE FROM News & Analysis
- No charges filed after woman kills construction worker273 Views
- Boehner discusses Highway Trust Fund on 60 Minutes155 Views
- Ohio worker’s death creates urgency on inspecting NJ bridges126 Views
- Cincinnati bridge collapse kills construction worker, injures truck driver124 Views
- Fingers crossed: Senate highway bill could be unveiled soon119 Views