Rogers Lauds Passage of Highway Trust Fund Legislation
Friday, September 12, 2008
Congressman Harold “Hal” Rogers (KY-05) voted in favor of legislation today to immediately remedy looming budget shortfalls in the Highway Trust Fund (HTF), which relies on federal fuel taxes to fund vital federal highway projects around the country. The legislation, passed by both the House of Representatives and the Senate, makes an additional $8 billion available for the Fund to ensure its solvency in the short-term. President Bush is expected to sign the legislation into law shortly.
“Time and again, I have stated my long-standing support for important road, bridge, and highway infrastructure investments in the Commonwealth and this one-time $8 billion transfer shores up the Highway Trust Fund and keeps our federal commitment to the states,” stated Rogers. “Well-maintained roadways in Southern and Eastern Kentucky make room for economic development and future prosperity while improving the safety of our people on the go. The Highway Trust Fund is the sole source of federal funding to improve and develop roads in our region and we should do everything possible to ensure that this account remains solvent to keep local road construction, bridge repair, and rehabilitation on schedule.”
A private Kentucky-based organization that studies transportation issues indicated that the Commonwealth stands to lose as much as $200 million in federal highway funds and 5,600 jobs should the Fund fail to be restored. H.R. 6532, passed overwhelmingly by the House and Senate, would immediately alleviate the budget shortfall by transferring $8 billion from the U.S Treasury to the Highway Trust Fund.
“While this temporary fix will ensure that thousands of highway and bridge projects in our state and around the country will continue uninterrupted, given the high price of gasoline that is crippling families in our area, we ought to take a long look at new funding mechanisms to address the transportation challenges we face today, so that we can remain competitive in the future,” stated Rogers. “Further, we are overdue to consider a comprehensive energy package that expands off-shore and domestic drilling, cuts red-tape to locating gas refineries, and fast-tracks development of coal-to-liquid transportation fuels. These measures will reduce gas prices, get Americans moving, and as a result, boost highway trust fund revenue.”
Rogers currently serves as a senior member of the House Appropriations Committee. Through this role, Rogers supports important initiatives in the Fifth Congressional District.