CQ TODAY
July 22, 2008 – 10:46 p.m.
House Prepares to Steer Highway Fund Into Fast Lane

The Highway Trust Fund is in trouble — estimates have shown that it could be $4 billion in the red next year. But an administration budget review that will likely be released next week will paint an even bleaker picture.

The upcoming midsession review by the White House Office of Management and Budget will show closer to a $6 billion shortfall for the fund, according to John L. Mica of Florida, the ranking Republican on the House Transportation and Infrastructure Committee.

With the ominous new estimate on the horizon, House Democrats are preparing to fast-track consideration of a bill (HR 6532) that would transfer $8 billion from the general Treasury to the trust fund.

The measure was referred to the Ways and Means Committee last week. A spokesman for the panel said there is a “strong possibility” the bill will be sent straight to the floor.

And a spokeswoman for Majority Leader Steny H. Hoyer, D-Md., said it is likely the bill will be taken up under suspension of the rules before the August recess.

Lawmakers have tried to inject money into the trust fund by attaching language to a variety of vehicles, including a Federal Aviation Administration reauthorization (S 1300, HR 3881). Fiscal conservatives in the Senate derailed the bill, in part due to its inclusion of money to shore up the trust fund, which was offset by revenue-raisers the GOP disliked.

Source: CQ Today
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