July 11, 2014
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Congressional Action Needed to Address Highway Trust Fund Shortfall, CalTrans Announces Plans to Use State Funds to Continue Projects Until OctoberWhile Congress continues to negotiate the Moving Ahead for Progress in the 21st Century Act (MAP-21), which is set to expire on Sept. 30, an even bigger problem looms: the Highway Trust Fund insolvency. Under MAP-21, the U.S. Highway Trust Fund (HTF) is funded by an 18.4 cents-per-gallon gas tax that provides an estimated $50 billion in annual funding for highways, streets and roads, bridges and mass transit projects. However, the revenues received from the gas tax are not enough to keep the HTF fully funded through the end of the fiscal year. Without Congressional action, the much talked about HTF could become insolvent by early August — resulting in an estimated 28 percent infrastructure financing cut for states.
Federal, Transportation, Public Works
State Treasurers Website Features Important ResourcesCities that have issued debt in the last five years may be interested in two recent webinars hosted by the State Treasurer’s California Debt and Investment Advisory Commission (CDIAC). These webinars provide cities with important information on the Securities and Exchange Commission (SEC) Municipalities Continuing Disclosure Cooperation Initiative (the MCDC Initiative).
Revenue and Taxation, Municipal FInance
How is technology changing cities? Join The National League of Cities in Santa Clara this August to find out!Technological innovation is changing the world in which city leaders are operating at a dramatic pace. Participants in the 2014 NLC University Leadership Summit, taking place Aug. 13-16 in Silicon Valley, will get a first-hand look at some of these revolutionary transformations through a special tour of the Google headquarters in Mountain View.
This story is part of an ongoing series featuring Helen Putnam Award entries. These entries are also now available on the League’s website as a resource for cities in a searchable database called California City Solutions. Lancaster’s Safer Stronger Neighborhoods was submitted in 2013 for the Enhancing Public Trust, Ethics, and Community Involvement award category.
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