WASHINGTON--Congress may have to consider a smaller highway-funding bill than initially planned because of a steep drop in revenue from the federal gasoline tax, Senate Finance Committee Chairman Max Baucus Lawmakers may have to draft a funding bill covering two years instead of six, which effectively would freeze highway-construction funding at existing levels or lead to a decline. States and transportation lobbyists say a drop in funding and the uncertainty of future federal funding levels could further hurt states and the construction industry.
Uncertainty causes hurts? Who knew? Not the small business people. They love it. Don't they? Well, then, send 'em some cake!
The Obama administration has called for a six-year, $556 billion transportation bill to create jobs and spur the economy.
Taxes for jobs! That's the new slogan!
It about doubles what we were spending on transportation when Dubya was President, and it was already larded up with pork back then...
Sen. Boxer (D., Calif.), has said in recent weeks she was determined to pass a bill of that size. Gas-tax revenue, the main source of highway funding, would leave a hole exceeding $200 billion in that plan, analysts project.
Too bad. First slice the pork, trim off the fat, then bring in some fresh beef from the EPA and the Education and Energy Departments. Plenty of taxes already collected for good roads.
Lawmakers haven't reached a consensus on how to plug the gap.
I'll bet Rep. Ryan [R., Flyover Country] has a plan!
President Barack Obama and leading lawmakers have rejected increasing the 18.4-cent federal tax on a gallon of gas. Which is the most logical thing to do. Instead, he'll expect the private sector to step up with toll roads, which foreigners can finance and the poor can avoid. Another way to 'tax the rich' and provide more funds to the disadvantaged [D., Big Cities] voters.