Home > Society and Social Sciences > Politics and government > Highway Trust Fund: Strategies for Safeguarding Highway Financing: Rced-92-245(English)
Highway Trust Fund: Strategies for Safeguarding Highway Financing: Rced-92-245(English)

Highway Trust Fund: Strategies for Safeguarding Highway Financing: Rced-92-245(English)

          
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About the Book

Pursuant to a congressional request, GAO examined the capacity of the Highway Trust Fund's highway account to support a legislative authorization of over $122 billion for federal-aid highway programs, focusing on the reasons for, consequences of, and strategies for dealing with a possible shortfall in the highway account's revenues. GAO found that the: (1) Federal Highway Administration (FHwA) projects that the highway account's revenues will not be sufficient to make the authorizations legislated for fiscal years 1992 through 1997; (2) anticipated $5.9-billion shortfall in actual and anticipated revenues will trigger the Byrd Amendment financial safeguard, which mandates a reduction in the apportionment of authorizations; (3) shortfall is attributable to revised revenue and cost estimates; (4) Department of the Treasury is not complying with mandates to quarterly estimate and report on the highway account's financial status; and (5) revenue shortfalls would also limit FHwA aid for state highway funding. GAO also found that, to deal with the expected shortfall in the highway account, Congress could: (1) allow the Byrd Amendment to take effect and repeal or incorporate the withheld authority during reauthorization; (2) increase revenues to the highway account; (3) limit annual obligation levels; (4) revise the Byrd amendment safeguard to consider future offsetting revenues for 3 years instead of 2 years; (5) alter the Byrd Amendment safeguard to apply to the full Highway Trust Fund; (6) modify the safeguard to weigh total outstanding obligations, not total outstanding authorizations, against available and anticipated revenues; and (7) completely suspend the Byrd Amendment.


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Product Details
  • ISBN-13: 9781289072711
  • Publisher: Bibliogov
  • Publisher Imprint: Bibliogov
  • Height: 246 mm
  • No of Pages: 32
  • Series Title: English
  • Sub Title: Strategies for Safeguarding Highway Financing: Rced-92-245
  • Width: 189 mm
  • ISBN-10: 128907271X
  • Publisher Date: 01 Jun 2013
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Spine Width: 2 mm
  • Weight: 77 gr


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