Highways: Senate Panel Acts To Close Trust Fund Gap
The Senate Finance Committee has approved a bill that would fix a projected 2009 shortfall in the Highway Trust Fund’s highway account. An aviation tax bill that the panel cleared on Sept. 21 includes provisions adding more than $5 billion to the trust fund. The big item is a $3.4-billion general Treasury transfer to the trust fund to reimburse it for emergency spending since 1998 on roads damaged by natural disasters.