Washington, DC – Despite the increase in transportation funding provided by the passage of the bipartisan Infrastructure Investment and Jobs Act (IIJA) in November 2021, the nation’s roads, bridges and transit systems remain significantly underfunded and will require increased investment for needed improvements and repairs. Fees on highway users continue to be a critical source of funding for the preservation and improvement of the nation’s Interstate Highway System, other critical roads and bridges eligible for federal-aid, and the nation’s public transit systems. The federal Highway Trust Fund (HTF) is the primary source of revenue for the IIJA and receives its revenues exclusively from highway user fees – taxes on motor fuels and other specified motorist purchases- and from interest on its existing balance (owed by the federal government on money borrowed from the Trust Fund). The HTF is deficit proof, financing road, bridge and transit improvements on a pay-as-you-go basis. The federal motor fuel tax is 18.4 cents per gallon for gasoline and 24.4 cents per-gallon for diesel fuel. It has been increased five times since 1956, with the most recent increase in 1997. READ FULL ARTICLE>>
