IT SEEMS THAT every couple of months, we have to talk about the Highway Trust Fund. Specifically, the lack of money in the Highway Trust Fund. And here we are again, with the fund expected to be insolvent by September—and a fix needed by July 31, since that’s when Congress takes vacation.
The Highway Trust Fund is the source of most federal spending on road infrastructure. Its primary source is the 18.4 cent per gallon excise tax on gasoline and a 24.4 cent per gallon tax on diesel. Problem is, the gas tax hasn’t been increased since 1993 (so it isn’t keeping up with inflation), cars are more fuel efficient than ever, and an increasing number of electric cars aren’t paying into the fund at all.
