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Boxer: Highway fund headed for deficit
June 15, 2009The Obama administration informed Congress in a call with Democratic committee staff that the highway trust fund would be in deficit by August, announced Barbara Boxer, chairman of the U.S. Senate Committee on Environment and Public Works, earlier this month. Boxer, D-Calif., said an infusion of about $7 billion would be needed to keep the fund solvent through the end of the current fiscal year, and an additional $8 billion to $10 billion would be needed in FY 2010 to continue funding authorized projects. Boxer’s remarks were echoed by Transportation Secretary Ray LaHood in testimony June 4 before the House Transportation Appropriations subcommittee. According to LaHood, the Obama administration “will soon have a plan to address the potential trust fund shortfall this summer.” p>
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