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Transportation bill funding generated from variety of sources

By |  July 11, 2012

Since Congress passed and President Barack Obama signed the transportation bill, NSSGA indicates a number of people have asked how the bill is being funded at $52 billion per year when that amount is significantly more than the total amount gasoline and other transportation user fees generate.

The Senate Finance Committee, as reported by NSSGA, says the $52 billion per year is being funded by a highway authorization and revenue transfer to the Highway Trust Fund (HTF), which entails an extension of HTF expenditure authority, an extension of highway-related taxes, a transfer of general fund monies into the HTF and by Pension Benefit Guaranty Corporation (PBGC) premiums.

Multiple items are reportedly offsetting the new funds in the federal budget, including roll-your-own cigarette machines and PBGC premium increases.

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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