Highway trust fund & Obama's budget - popvox
The Highway Trust Fund is set to expire at the end of May. The Fund is the federal government’s account—funding largely by a tax on gas—that pays for state and federal infrastructure projects. Until 2008, the Highway Trust Fund was paid for exclusively by user fees, and since then, Congress has authorized additional money on a nearly annual basis.
>From our Hill Sources: Last year, Congress passed a patch, which expires at the end of this month, after which the Highway Trust Fund is expected to run out of money in July. Republican leaders in Congress are likely to put another funding extension to a vote next week, which would give them more time to negotiate a longer-term highway funding bill. Some Democrats in Congress are saying they will reject the short-term bill and want to work instead on a long-term solution.
The President’s 2016 Budget ( https://www.whitehouse.gov/sites/default/files/omb/budget/fy2016/assets/fact_sheets/building-a-21st-century-infrastructure.pdf?utm_campaign=website&utm_source=sendgrid.com&utm_medium=email) proposes a six-year, $478 billion infrastructure funding plan. It is funded by a one-time, 14-percent corporate tax on profits held overseas, estimated at up to $2 trillion. The White House predicted the tax would bring in approximately $238 billion over five years.
The House will vote on a short-term transportation funding bill this week:
Highway and Transportation Funding Act ( https://www.popvox.com/bills/us/114/hr2353?utm_campaign=website&utm_source=sendgrid.com&utm_medium=email) (HR 2353 and S 1350 ( https://www.popvox.com/bills/us/114/s1350?utm_campaign=website&utm_source=sendgrid.com&utm_medium=email) in the Senate)
