(July 23, 2008)—In a move that would restore temporary solvency to the federal account essential to keeping U.S. roads and bridges safe, the U.S. House Wednesday approved an $8 billion boost for the nation’s highway trust fund.
The congressional backing also would stave off the fund's expected revenue shortfall that could reduce federal highway aid for state projects by more than 30 percent, which would endanger hundreds of thousands of construction jobs.
Rep. John Carter, R-Round Rock, voted for the measure, calling transportation dollars “vital to the continued growth and stability of our state.”
“Without this action, the Highway Trust Fund would go belly-up next year, leaving Texas highways $853 million dollars short, when we have already lost millions due to the looming problem,” Carter said.
But the White House is pondering a veto.
A statement says taking money from the general Treasury fund to prop up the highway trust fund shifts costs from highway users to taxpayers at large.
The White House calls that "both a gimmick and a dangerous precedent."
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