Who Cares About the Highway Trust Fund?
Rep. John Lewis (D-GA) is proposing today to make a small but
crucial change in federal transit policy by requiring the nation’s
Highway Trust Fund to keep the interest money it accrues, rather than
give it up for the government’s general use.
Which brings up an even more crucial question: Why is it a good thing to give the Highway Trust Fund more cash?
starters, the name of 53-year-old fund is pretty misleading. Funded by
the 18-cent-per-gallon gas tax, the highway trust fund (HTF) provides
money not only for new roads, but also for mass transit.
Though public transportation receives a criminally paltry 2.86-cent share of gas tax proceeds, the HTF accounts for about 80 percent
of the government’s total spending on mass transit. Strange as it
sounds, then, keeping the HTF fiscally healthy is an important first
step in giving Washington’s transportation policy a much-needed
In fact, the mass transit account of
the HTF is at risk of exhaustion by 2012 — and that still puts it in
better shape than the general highways account, which faces insolvency
as soon as this fall.
Lewis’ bill would keep all
transportation money from being diverted to patch other budget needs,
thus strengthening the mass transit account and increasing the
likelihood that the HTF funding crisis doesn’t scare Congress into postponing the entire debate over federal transportation reauthorization.
short, the more quarters that can be scrounged from between the
nation’s couch cushions for the HTF, the more likely we are to see a
congressional transportation bill that reorders the nation’s priorities
to reflect 21st-century reality.