About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

Letter to the Honorable Nick J. Rahall II regarding Two Scenarios for Federal Funding Commitments From the Highway Trust Fund 1 (May 14, 2014)

handle is hein.congrec/cbo1667 and id is 1 raw text is: O CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 May 14, 2014 Honorable Nick J. Rahall II Ranking Member Committee on Transportation and Infrastructure U.S. House of Representatives Washington, DC 20515 Re. Two Scenarios for Federal Funding Commitments From the Highway Trust Fund Dear Congressman: As you requested, the Congressional Budget Office has analyzed the amount of new federal funding commitments that could be made from the Highway Trust Fund for highway and mass transit programs under the following alternative scenarios: Maintain a balance in the trust fund that is greater than zero for each year over the 2015-2024 period, or Maintain balances of at least $4 billion in the trust fund's highway account and at least $1 billion in its transit account for each year over the 2015-2024 period. Under those scenarios, new commitments that could be made for highway and mass transit programs over the next decade would total roughly 35 percent to 40 percent less than the amounts projected under CBO's April 2014 baseline, as summarized in Table 1. In preparing its analysis, CBO assumed that revenues credited to the trust fund would equal those projected in its baseline ($390 billion over the next 10 years) and that new commitments would not exceed the amounts assumed in the baseline in any year. Table 1. New Commitments Under Two Scenarios for the Highway and Transit Accounts of the Highway Trust Fund, 2014 to 2024 (Billions of dollars) Highway Account Transit Account Total Maintain End-of-Year Balances Greater Than Zero 325 44 369 Maintain End-of-Year Balances of at Least $4 Billion in the Highway Account and at Least $1 Billion in the Transit Account 315 35 350 Memorandum: CBO's Baseline Projection 469 95 564 Source: Congressional Budget Office. www.cbo.gov

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most