he shall further advise the Secretary of Transportation as to the amount of such excess. Pub. 0000002192 00000 n Pub. Subsec. J, title IV, § 4006(b)(2), Oct. 21, 1998, 112 Stat. Pub. (b)(2). L. 108–310, § 13(d), Sept. 30, 2004, 118 Stat. L. 114–73 substituted “November 21, 2015” for “October 30, 2015” and “Surface Transportation Extension Act of 2015” for “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015”. Subsec. L. 105–130, § 9(d), Dec. 1, 1997, 111 Stat. 1129, provided that: Pub. When the reserves are exhausted, funds are distributed on a rolling basis as new revenue is received. (f)(9). Pub. L. 105–178, § 9005(a)(1), substituted “exceeds—. Pub. (D) and (E) as (C) and (D), respectively, and struck out former subpars. (I). L. 112–141, div. (4) to (6) as (3) to (5), respectively. 2008—Subsecs. L. 108–280, § 10(a)(4), July 30, 2004, 118 Stat. Limit transportation spending to available . (e)(3). (c)(5). (b)(4). CBO: Highway Trust Fund will be Exhausted in 2021. 50.02 - NR 50.02 - Applicability, Wis. Admin. 1388–427, provided that: Pub. (c)(3). L. 108–88, § 12(a)(2), substituted “March 1, 2004” for “October 1, 2003” in introductory provisions, added subpar. L. 109–37, § 9(a)(1)(A), (E), substituted “July 28, 2005” for “July 22, 2005” in introductory provisions and “Part IV” for “Part III” in concluding provisions. L. 105–34, § 901(c), added par. Pub. Subsec. L. 100–203, § 10502(d)(13), added subpar. The extension of the FAST Act keeps funding at current levels and makes an additional one-time $13.6 billion transfer to the Highway Trust Fund to keep it solvent. Pub. Spending from the trust fund's highway account in July was only a little less than the average spending for July 2018 and 2019. (K), relating to expenditures in accordance with the Surface Transportation Extension Act of 2005, Part II. Excerpt from Present Law and Proposals Relating to Extension of Highway-Related Excise Taxes and Reauthorization of Highway Trust Fund Expenditures: Scheduled for a Hearing Before the Committee on Ways and Means on July 22, 1986 Excise taxes are imposed on gasoline and diesel and other motor fuels, trucks and truck. The Surface Transportation Extension Act of 2004, Part IV, referred to in former subsecs. 2020—Subsec. 1986—Subsec. L. 103–66 effective Jan. 1, 1994, see section 13242(e) of Pub. Amendment by section 11167(b) of Pub. Pub. Considers H.R. 4144, H.R. 3838, H.R. 3129. L. 113–159, § 2001(a)(1), substituted “June 1, 2015” for “October 1, 2014”. Indeed, an infusion of $10.8 billion from the general fund in July 2014 is expected to sustain current levels of trust fund spending only through May 2015. L. 109–42, § 7(a)(2)(A), (E), substituted “August 15, 2005” for “July 31, 2005” in introductory provisions and “Part VI” for “Part V” in concluding provisions. U, title I, § 104(b), Surface Transportation Assistance Act of 1982, Intermodal Surface Transportation Efficiency Act of 1991, Transportation Equity Act for the 21st Century, Surface Transportation Extension Act of 2003, Surface Transportation Extension Act of 2004, Surface Transportation Extension Act of 2004, Part II, Surface Transportation Extension Act of 2004, Part III, Surface Transportation Extension Act of 2004, Part IV, Surface Transportation Extension Act of 2004, Part V, Surface Transportation Extension Act of 2005, Surface Transportation Extension Act of 2005, Part II, Surface Transportation Extension Act of 2005, Part III, Surface Transportation Extension Act of 2005, Part IV, Surface Transportation Extension Act of 2005, Part V, Surface Transportation Extension Act of 2005, Part VI, Surface Transportation Extension Act of 2010, Surface Transportation Extension Act of 2010, Part II, Surface Transportation Extension Act of 2011, Surface Transportation Extension Act of 2011, Part II, Land and Water Conservation Fund Act of 1965, Pub. 391, provided that: Pub. Pub. Subsec. Pub. Subsec. L. 112–102, title IV, § 401(d), Mar. (e)(3). The provisions of law referred to in this paragraph before the date of the enactment of such Act, referred to in subsec. L. 102–240, § 8002(e), substituted “1997” for “1993” in introductory provisions, added subpar. except as otherwise provided in this sentence, 2.86 cents per gallon. Pub. 876. Pub. Pub. 1945, provided that: Amendment by section 11115(a) of Pub. (O), relating to obligations authorized to be paid under the Surface Transportation Extension Act of 2005, Part IV. L. 102–240, § 8002(d)(1), substituted “1999” for “1995” and “2000” for “1996” wherever appearing. The Surface Transportation Extension Act of 2005, Part III, referred to in former subsecs. L. 112–141, July 6, 2012, 126 Stat. A, title II, § 217(a), Pub. Pub. L. 111–68, Oct. 1, 2009, 123 Stat. (b)(4)(B). (D), redesignated subpars. L. 108–202, § 12(a)(2)(A), (E), substituted “May 1, 2004” for “March 1, 2004” in introductory provisions and “Surface Transportation Extension Act of 2004” for “Surface Transportation Extension Act of 2003” in concluding provisions. Subsec. MoDOT Expenditures for Roads and Bridges, Multimodal, Highway Safety - Table 5 Summary of State and Federal Funds 6 Federal Aid Apportionments based on Fixing America's Surface Transportation (FAST) Act 7 Ratio of Federal Highway Trust Fund Payments Into Fund vs. Apportionments and Pub. For complete classification of this Act to the Code, see Short Title of 2005 Amendment note set out under section 101 of Title 23, Highways, and Tables. Status of the Highway Trust Fund. For complete classification of this Act to the Code, see Short Title of 2015 Amendment note set out under section 101 of Title 23, Highways, and Tables. Most federal transportation spending is paid for out of the Highway Trust Fund, which is funded mainly from an 18.4-cent-per-gallon gas tax and other transportation-related revenue. 2015—Subsec. (b)(1). L. 108–263, § 10(a)(2)(A), (E), substituted “August 1, 2004” for “July 1, 2004” in introductory provisions and “Part III” for “Part II” in concluding provisions. (I). 1163, provided that: Pub. A, title IV, § 420(b)(6), Pub. Subsec. For complete classification of this Act to the Code, see section 1(a) of Pub. Table A-1 below provides an overview of the Highway Trust Fund planned funding and planned expenditures (and the associated percentages) over the six-year period FY 2007 through FY 2012. L. 109–14, § 9(a)(1)(A), (E), substituted “July 1, 2005” for “June 1, 2005” in introductory provisions and “Surface Transportation Extension Act of 2005” for “Surface Transportation Extension Act of 2004, Part V” in concluding provisions. Pub. • Spending. Transfers of nonbond funds; capital project expenditures: 5 year useful life. Pub. Pub. Pub. Subsec. Lawmakers must fix this imbalance through a combination of spending restraint, greater efficiency and new revenue. A, title II, § 217(b), Pub. (B) and (C), redesignated former subpar. (6). Pub. Highway Trust Fund Fact Sheet The Highway Trust Fund, the principal source of federal surface transportation funding, is increasingly unable to maintain current spending levels for highway and transit programs. (D) generally. "The Highway Trust Fund cash shortfall is an important scenario to be aware of - but also one of many possible scenarios between now and the end of September," said Joung Lee, director of . The Highway Trust Fund is projected to soon run out of money, but has been sustained by transfers from the Treasury's general fund. (b)(1), (2). L. 109–42, § 7(e), July 30, 2005, 119 Stat. (c)(7). L. 114–94, § 31201, added par. 1164, provided that: Pub. (b)(6). Subsec. L. 112–140 effective July 1, 2012, see section 402(f)(1) of Pub. L. 112–102, set out as a note under section 4041 of this title. The Congressional Budget Office (CBO) estimates the HTF faces a $195 billion cumulative shortfall over the next decade, and trust fund solutions will be needed soon. (c)(7). Pub. (2) and struck out former par. 504, provided that: Pub. Pub. 872, provided that: Amendment by section 1032(e)(13), (14) of Pub. L. 111–147, § 442(b), substituted “this section” for “this subsection”. the receipts (including interest) of the Highway Trust Fund during such period, over. Subsec. Section 209 was repealed, except for subsection (b) thereof, by Pub. (J). Amendment by Pub. The Surface Transportation Extension Act of 2010, referred to in former subsecs. This increase in cash was primarily due to increased motor fuel tax and license & fees revenues for the Highway Fund combined with decreased expenditures over the past year. The HTF derives its revenue primarily from the Federal motor fuel tax (18.4 cents per gallon on gasoline and 24.4 cents per gallon on diesel fuel as of 2020), in . L. 105–354. For complete classification of this Act to the Code, see Short Title of 2005 Amendment note set out under section 101 of Title 23, Highways, and Tables. Former par. (7). Subsec. 0000005845 00000 n Pub. L. 98–369 effective Oct. 1, 1984, see section 1016(e) of Pub. Subsec. L. 105–178, § 9002(f)(1), struck out “and tread rubber” after “tires” in subpar. A, title II, § 217(b), Dec. 19, 2014, 128 Stat. Pub. (e)(2). (e)(4). This paper discusses using an oil tax to fund U.S. transportation infrastructure. The paper discusses the pros and cons of an oil tax to take the place of the current gasoline and diesel taxes. (C) as (D), and struck out former subpar. 0000002156 00000 n Pub. Amendment by Pub. C, title XXXI, § 31202(b), Pub. (f). (c)(1). L. 98–369, § 911(d)(1)(B), inserted “(or with respect to qualified diesel-powered highway vehicles purchased before January 1, 1988)”. (c)(2)(A). b���D*��#�|��D���jG~f��=A� ����7q7���2���'o�f1tx����֝��%���[wwk͗մ�6������zY�ۻ�(~9�Zg�����*.��x���SLm�5t)%�̔� The Highway Trust Fund is a transportation fund in the United States which receives money from a federal fuel tax of 18.4 cents per gallon on gasoline and 24.4 cents per gallon of diesel fuel and related excise taxes. (1) and (2) as subpars. (c)(3)(A)(i), (4)(A). L. 106–554, § 1(a)(7) [title III, § 318(e)(2)], Dec. 21, 2000, 114 Stat. Pub. 0000403014 00000 n Pub. (c)(1), is Pub. L. 109–40, § 9(a)(2)(B)–(D), added subpar. Subsec. Subsec. Pub. L. 112–141 effective July 1, 2012, see section 40102(f) of Pub. L. 109–20, § 9(a)(2)(A), (E), substituted “July 20, 2005” for “July 1, 2005” in introductory provisions and inserted “, Part II” after “Surface Transportation Extension Act of 2005” in concluding provisions. 2043. (d)(3). Pub. (e)(3). Subsec. There is hereby transferred to the Highway Account (as defined in subsection (e)(5)(B)) in the Highway Trust Fund amounts appropriated from the Leaking Underground Storage Tank Trust Fund under section 9508(c)(2). Subsec. L. 114–94, § 31102(e)(1)(A), substituted “October 1, 2022” for “October 1, 2016” in heading and “September 30, 2022” for “September 30, 2016”, “July 1, 2023” for “July 1, 2017”, and “October 1, 2022” for “October 1, 2016” in text. L. 105–178, title IX, § 9005(e), June 9, 1998, 112 Stat. (e)(5)(A). Pub. (c)(1) and (e)(3), is div. L. 114–21 substituted “August 1, 2015” for “June 1, 2015” and “Highway and Transportation Funding Act of 2015” for “Highway and Transportation Funding Act of 2014”. Pub. (G) as (F) and struck out former subpar. (f)(2). L. 100–203, set out as a note under section 40 of this title. L. 114–94 effective Oct. 1, 2016, see section 31102(f) of Pub. For complete classification of this Act to the Code, see Short Title of 2005 Amendment note set out under section 101 of Title 23, Highways, and Tables. 4035, provided that: Pub. Pub. Subsec. 710, provided that: Pub. Pub. Pub. L. 112–141, § 40251, redesignated par. Pub. 462, title II, 70 Stat. L. 99–499, § 521(b)(1)(B), inserted “(to the extent attributable to the Highway Trust Fund financing rate)” after “section 4081”. Pub. The gas tax is the leading source of revenue for the federal Highway Trust Fund, which is down 49% from a year ago in May 2020, according to Anirban Basu, chief economist for Associated Builders . L. 99–499 effective Jan. 1, 1987, see section 521(e) of Pub. Pub. (b)(4)(E), (F). For complete classification of this Act to the Code, see Short Title of 2005 Amendment note set out under section 101 of Title 23, Highways, and Tables. (c)(1) and (e)(3), is Pub. 2206, provided that: The following state regulations pages link to this page. L. 109–37, July 22, 2005, 119 Stat. Pub. Pub. 402, provided that: Amendment by section 402(d)(1), (2)(A) of Pub. L. 101–508, set out as a note under section 4041 of this title. According to the Congressional Budget Office's (CBO) current baseline budget projections, spending from the governments collective trust funds . Pub. L. 97–424, Jan. 6, 1983, 96 Stat. R-245595 by petroleum that has leaked from such tanks. L. 105–34 effective as if included in the provisions of the Small Business Job Protection Act of 1996, Pub. the amount authorized to be appropriated from the Trust Fund for the fiscal year for apportionment to the States. (D) to (F) as (C) to (E), respectively, and struck out former subpar. (c)(2)(A)(i). L. 106–554, § 1(a)(7) [title III, § 318(e)(2)], Pub. Pub. L. 114–41, § 2001(a), substituted “October 30, 2015” for “August 1, 2015” and “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015” for “Highway and Transportation Funding Act of 2015”. (O), relating to expenditures in accordance with the Surface Transportation Extension Act of 2005, Part VI. Pub. Subsec. October 2019 November 2019 December 2019 January 2020 . Prior to amendment, text read as follows: “Out of money in the Treasury not otherwise appropriated, there is hereby appropriated to the Highway Trust Fund $8,017,000,000.”. L. 105–178, § 9004(c), added par. Pub. L. 116–159), which was approved Oct. 1, 2020. The Highway Revenue Act of 1956 established the federal Highway Trust Fund (HTF) for the direct purpose of funding the construction of an interstate highway system, and aiding in the finance of primary, secondary, and urban routes. (10) and redesignated former par. The Continuing Appropriations Act, 2021 and Other Extensions Act, referred to in subsecs. 4.3 cents per gallon of kerosene subject to, 21.8 cents per gallon of kerosene subject to, Transfers under the preceding sentence shall be made on the basis of estimates by the Secretary, and proper adjustments shall be made in the amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred. L. 114–94, Dec. 4, 2015, 129 Stat. Pub. L. 112–140, set out as a note under section 101 of Title 23, Highways. 1312, also known as the Fixing America’s Surface Transportation Act. x��][s�F�~w����RHh�@��_��xgLI��*�B잙����Y�W�rګ7o^��}9��3����f��חw+���rQ�e_5����~��L�oߪwߝ��_��=�A�|�ҟY�V�|�oU��Ż˗/^_��>���|�K� L. 111–147, § 444(a), redesignated par. Pub. L. 109–59 effective Oct. 1, 2005, see section 11115(d) of Pub. (8). The Highway Revenue Act of 1956 established the federal Highway Trust Fund (HTF) for the direct purpose of funding the construction of an interstate highway system, and aiding in the finance of primary, secondary, and urban routes. Pub. L. 101–508, § 11211(a)(5)(D), inserted reference to section 4041. Despite eliminating trust fund shortfalls through 2020, the fund's long-term structural imbalance between spending and revenue remains. Pub. (e)(3)(E). L. 110–244 substituted “SAFETEA–LU Technical Corrections Act of 2008” for “Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users”. 2097. L. 111–46 added par. �x��\�(R�5�XpD������. L. 114–21, May 29, 2015, 129 Stat. Pub. Pub. L. 111–322, § 2401(a)(2), substituted “the Surface Transportation Extension Act of 2010, Part II” for “the Surface Transportation Extension Act of 2010”. 95, provided that: Pub. (c)(1) and (e)(3), is title IV of Pub. L. 112–140 had not been enacted, see section 1(c) of Pub. Pub. Pub. Highway Trust Fund: Possible Impact if It Had Financed All Highway Expenditures Pub. Revenues for the trust fund come from transportation-related excise taxes, primarily federal taxes on gasoline and diesel fuel. Limit Highway Trust Fund Spending to Revenues. L. 101–508, § 11211(g)(1), substituted “1995” for “1993” and “1996” for “1994” wherever appearing. L. 112–30 effective Oct. 1, 2011, see section 142(f) of Pub. Pub. The extension of the FAST Act keeps funding at current levels and makes an additional one-time $13.6 billion transfer to the Highway Trust Fund to keep it solvent. Whether such provision of Pub, 123 Stat l. 105–354, § 420 ( b ) ( ). Of projects across the country to maintain and improve Surface infrastructure section 911 ( e ) ( )... 50.21 - national recreational highway trust fund expenditures program and Water Conservation Fund section 104 ( b ), ( ). Month shortly after month-end as the Fixing America ’ s Surface Transportation Extension Act of 2014, 128.! 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