FOR IMMEDIATE RELEASE: September 11, 2008
CONTACT: Matt Mackowiak
Sen. Hutchison: Senate-Passed Highway Trust Fund Fix will Provide Over $600 Million for Texas
Prevents Nearly 30% Cut for State’s Highway Maintenance and Improvement
WASHINGTON, DC -- U.S. Senator Kay Bailey Hutchison (R-TX), Texas’ senior Senator, today praised Senate passage late Thursday of H.R. 6532, a bill transferring $8 billion from the general fund of the Treasury to the Highway Trust Fund.
“I am pleased the Senate has passed legislation to fully fund important transportation and infrastructure projects,” said Sen. Hutchison. “This legislation will prevent a 34% cut in highway and bridge investment nationally. Without action, Texas could have expected nearly 30% less in highway maintenance and improvement funds for 2009 and 30,000 Texans could have lost their construction jobs. Earlier this year I introduced legislation to replenish the Highway Fund and keep highway projects funded through 2009.”
This legislation was necessary to make whole the federal Highway Trust Fund, which keeps state highway programs solvent. State transportation departments receive funding from the federal government from federal gas taxes, but with consumer demand and the diversions from the fund for emergencies like the Minneapolis bridge collapse, states faced serious budget shortfalls.
Of the $8 billion total, the state of Texas will receive approximately $640 million through the life of the highway bill, also known as SAFETEA-LU, which must be reauthorized before the end of Fiscal Year (FY) 2009.
The House is expected to pass the legislation this week and President Bush is expected to sign it by Friday.
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