HTF Bill (HR 6532) Approved by House (July 23, 3008)
To:
Public Works Directors
CEAC Transportation Committee
Cc:
Re:
HR 6532 (Rangel): Highway Trust Fund Restoration (HTF)
Please find
an update below from CSAC’s federal advocate on HR 6532 which would shift
$8 billion to the HTF from the general fund.
Sincerely,
Kiana
As expected, today the House overwhelming approved
Representative Charles Rangel’s (D-NY) Highway Trust Fund restoration
legislation (HR 6532). The measure, which received far more than the
two-thirds vote required to pass a bill under Suspension of the Rules, would
shift $8 billion in general revenue to the HTF.
Passage of the bill comes in advance of new estimates that
are expected to show that the HTF will have a shortfall of roughly $6 billion
in fiscal year 2009. Earlier estimates put the shortfall at anywhere
between $3 and $4 billion.
For its part, the White House has threatened to veto the
legislation, claiming that the bill “is both a gimmick and a dangerous
precedent that shifts costs from users to taxpayers at large.”
According to the administration, the measure would unnecessarily increase the
deficit and would place any hope of future, responsible constraints on highway
spending in jeopardy.
The action now moves to the Senate, where key members are
discussing options for moving forward with an HTF restoration package.