House Votes $8 Billion Relief For Highway Trust Fund

摘要

Congress approved a measure to transfer $8 billion from the general fund of the Treasury to the Highway Trust Fund after U.S. Department of Transportation Secretary Mary Peters revealed the trust fund would run out of money before the end of September.rnThe White House had previously threatened to veto the measure, calling it "both a gimmick and a dangerous precedent that shifts costs from users to taxpayers at large."rnBut the administration shifted positions with Secretary Peters' projections, whichrnrevealed a much-accelerated timeline for the HTF's shortfall. The HTF is funded by an 18.3-cent federal tax on every gallon of gasoline sold and 24.3 cents for each gallon of diesel. The shortfall is due primarily to reductions in fuel consumption as the nation's drivers react to high gas prices.