Highway Trust Fund Is Nearly Broke
Fund to Fix Roads and Bridges Could Be Empty by Month's End
With high gas prices taking a big bite out of family budgets, Americans drove almost 10 billion fewer miles in May 2008 than in May 2007, according to Federal Highway Administration numbers released in July by the Transportation Department.
That shift has had some unintended consequences. With less money coming in, it's possible critical traffic and transit improvements could be scaled back or delayed.
In late July, Peters said that was "yet another example of how the gas tax is an antiquated mechanism." At that time, she said the money in the fund is needed for a backlog of highway maintenance projects that haven't yet been funded but need to be.
"This crisis could lead to millions of construction layoffs across this country at a time when the unemployment rate is already the highest it has been in nearly five years," Murray said.
On the other side of the aisle and the other side of Capitol Hill, Rep. John L. Mica, R-Fla., also said Congress should take action.
"We are in an economic slowdown, and we cannot afford to start shutting down critical infrastructure projects," said Mica, the Republican leader of the House transportation panel, in a Friday statement. "These projects are vital to transportation safety and the economy, and provide thousands of well-paying jobs."
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