According to the US DOT’s website, the Highway Account of the federal Highway Trust Fund, which gets most of its money from the federal gas tax, is expected to become insolvent by the end of August. On July 1st, U.S. DOT Secretary Foxx sent a letter to state DOTs outlining cash management procedures for the Highway Account. In the letter, Foxx states that the Federal Highway Administration will reduce payments and distribute incoming funds in proportion to each state’s federal apportionment for the current fiscal year. He also states that the U.S. DOT will restrict travel and administrative expenses as much as possible to conserve funds.
Legislation that would provide $302 billion for infrastructure projects and replenish the Highway Trust Fund has failed to gain bipartisan support in Congress. According to the CT Mirror, this could affect more than 80 Connecticut transportation projects. Without a funding bill, Secretary Foxx stated that payments for road projects would be reduced by about 28%.
