Skip to Content
Streetsblog USA home
Streetsblog USA home
Log In
Economics

The U.S. Wants to “Borrow” From Transit to Pay for Highways

U.S. Transportation Secretary Mary Peters said yesterday that due to declining gas tax revenues, the Highway Trust Fund would need to borrow money from its mass transit account to pay for road projects. Today's big news story was buried at the bottom of page A17 in the New York Times:

Gasoline tax revenue is falling so fast that the federal governmentmay not be able to meet its commitments to states for road projectsalready under way, the secretary of transportation said Monday.

Thesecretary, Mary E. Peters, said the short-term solution would be forthe Highway Trust Fund’s highway account to borrow money from thefund’s mass transit account, a step that would balance the accounts ashighway travel declines and use of mass transit increases.

Meanwhile, America's historically underfunded transit systems are also struggling with rising fuel prices and record demand. No word yet on how taking money away from transit to pay for highways fits in to George W. Bush's plan to end America's oil addiction but maybe time for Americans to take a good, hard look in the mirror and ask ourselves what kind of nation do we want to be?

Stay in touch

Sign up for our free newsletter

More from Streetsblog USA

Wednesday’s Headlines Got the Worried Blues

Transit agencies listen to that whistle blow. They're going where they never gone before.

July 17, 2024

Study: More Evidence That Safer Streets Help Loca Business

...and more insight into why that belief is so hard to quash.

July 17, 2024

Tuesday’s Headlines Turn Up the Heat

Triple-digit heat, fueled by climate change, is warping rail lines, interrupting construction work on transit lines and causing burns on sidewalks.

July 16, 2024

These Are the Most Dangerous Congressional Districts for Pedestrians

The deadliest congressional districts in America are dominated by BIPOC communities — and federal officials need to step up to save the most vulnerable road users.

July 16, 2024

Delivery Worker Minimum Wage Shows Promise … For Some, Data Shows

New data from New York City's Department of Consumer and Worker Protection shows minimum wage is bringing order to a previously wild industry.

July 15, 2024
See all posts