July 11, 2014 Issue #58 Editor's NoteFor a PDF copy of the newsletter please visit the League's website. For more updates from the League, follow us on Twitter and like us on Facebook.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
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