Further evidence of the political insanity gripping Washington, D.C.: With the Federal Highway Trust Fund - a key source of highway and transit infrastructure investment for many years - veering toward insolvency, Congresss possible solution is to temporarily stave off default by allowing corporations to use a pension formula gimmick to generate fake new revenue to keep the trust fund alive. The actual solution is to deal with the federal gas tax, which has always funded the trust fund. The federal gas tax hasnt been increased, even for inflation, since 1993, meaning that, in real dollars, its declined by 40%. Raising the gas tax and indexing it to inflation would make the fund solvent and allow key transportation projects to continue. Wouldnt it be nice if Congress would actually solve a budget problem for once rather than kick the can down the road with a gimmick?
Posted on: Sun, 13 Jul 2014 15:00:32 +0000
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