This week, the Senate Finance and House Ways and Means Committees passed bills to stabilize the rapidly diminishing Highway Trust Fund (HTF), which is anticipated to become insolvent sometime this summer without Congressional action. Both the House and Senate bills would provide approximately $11 billion to provide temporary funding relief to the HTF through May 31, 2015, which would be funded with general fund transfers that would be offset through “pension smoothing,” an extension of expiring customs duties, and funding transfers from the Leaking Underground Storage Tank Trust Fund. House Speaker John Boehner announced earlier this week that he intends to have the full House vote on House the measure next week. The Senate is expected to vote on their version of the bill within the coming weeks.
Addressing the potential insolvency of the HTF as well as reauthorizing MAP 21 – the federal transportation funding program which is due to expire in September – remains a top priority for RCRC. RCRC’s federal advocates remain engaged with Congressional leaders and their staff on efforts to provide funding to vital rural transportation programs.