Latest Highway Trust Fund Ticker update again predicts August shortfall
The U.S. Department of Transportation maintains its projection that the Highway Trust Fund will shortfall in August, according to the latest update of the agency’s Highway Trust Fund Ticker.
Transportation Secretary Anthony Foxx introduced the Ticker in January. It is designed to provide a monthly update on the HTF’s remaining balance.
Last month, the DOT offered the same projection on when the HTF will run dry: late August.
The HTF provides funding to the majority of surface transportation projects in the U.S., and the DOT could slow reimbursements to state and local agencies to prevent the shortfall. Additionally, Transportation Secretary Anthony Foxx previously said that if the HTF, along with other problems with the nation’s transportation system, isn’t fixed, it could cost 700,000 jobs.
In the ticker update, the DOT notes that the Highway Account started fiscal year 2014 with about $1.6 billion, and $9.7 billion was transferred from the General Fund.
Since then, the account’s cash balance has dropped by nearly $3.2 billion to $8.7 billion, according to Federal Highway Administration (FHWA) data through April 25.
For more details, see the DOT’s Highway Trust Fund Ticker here.
From our partners
The new Sandvik Ranger surface drill rig offers renowned drilling efficiency with up to 20% lower fuel consumption
Known to many by their former name, Ranger, Sandvik’s DX series surface…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- VIDEO: Caterpillar builds world’s tallest sand castle, then destroys it 895 Views
- Sand saves a construction worker's life494 Views
- Last second Christmas gift ideas for construction workers289 Views
- Congress passes $1.1 trillion spending bill; cuts billions from federal construction accounts167 Views
- Get operations off to a good start with sound mine planning154 Views