Highway Trust Fund improved solvency mechanisms and communication needed to help avoid shortfalls in the Highway Account : report to the Committee on Environment and Public Works, U.S. Senate

Format:

Book

Government document

Author/Creator:

United States. Government Accountability Office

Contributor:

United States. Congress. Senate. Committee on Environment and Public Works

Language:

English

Subjects (All):

Federal aid to transportation--United States.

Federal aid to transportation.

Roads--United States--Finance.

Roads.

Physical Description:

1 online resource

Contained In:

ProQuest U.S. Congressional Research Digital Collection

Other Title:

Highway account solvency

Improved solvency mechanisms and communication needed to help avoid shortfalls in the Highway Account

Place of Publication:

[Washington, D.C.] U.S. Govt. Accountability Office [2009]

Summary:

"The Highway Account within the Highway Trust Fund is the primary mechanism for funding federal highway programs. The account--administered by the Federal Highway Administration (FHWA) within the Department of Transportation (DOT)--channels about $33 billion in highway user excise taxes annually to states for highway projects. Although DOT and others projected that the account could run out of funds in fiscal year 2009, the balance fell more rapidly than expected and a shortfall became imminent in August 2008. In September, Congress passed legislation to provide $8 billion to replenish the account, but DOT officials anticipate the account could reach a critical stage again in fiscal year 2009. This report (1) describes the events that led to the decline in the account balance, including how DOT responded, and (2) identifies potential improvements in mechanisms to manage account solvency. This report also includes information on strategies GAO has reported on in the past that could be used to better align account outlays and revenues"

Notes:

Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection. Reuse except for individual research requires license from ProQuest, LLC

Includes bibliographical references

Vendor supplied data

Other Format:

Microfiche version United States Government Accountability Office Highway Trust Fund CIS 2009 J942-217

Print version United States Government Accountability Office Highway Trust Fund

Publisher Number:

CMP-2009-GAO-0099

Access Restriction:

Restricted for use by site license