The Source: U.S. Highway Trust Fund Going Broke
Lawmakers have to act if they want to save the nation's infrastructure, according to Anthony Foxx, the head of the U.S. Highway Trust Fund. At risk is more than 700,000 jobs and 112,000 projects.
The trust, which was set up in the 1950s to fund the nation's highway system, is running our of money.
It is funded through a national gas tax that currently sits at 18.4 cents a gallon and hasn't been raised in 20 years. In 2008, 2009 and 2010, congress approved transferring millions from general revenue to make up for the shortfall, but they have failed to do so recently. The Wall Street Journal is reporting they will be delaying payments t to states for projects as a result.
Are you willing to pay more at the pump to maintain our roads? What other solutions have been proposed?
Bill Hammond, CEO for the Texas Association of Business
- David Goldberg, spokesperson at Transportation for America, and advocacy group for better infrastructure
*This is the second segment in the May 14 edition of The Source, which airs at 3 p.m. on KSTX 89.1 FM. Audio from this show will be posted by 5:30 p.m.