On The Money

CBO: Highway fund will face shortfall under Obama budget

The Congressional Budget Office (CBO) said Thursday that the Department of Transportation’s  Highway Trust Fund will not have enough money under President Obama’s proposed 2015 budget, despite an infusion of cash that has been suggested by the president. 

Obama has called for Congress to approve a four-year, $302 billion surface transportation bill before the federal government’s current road and transit funding measure expires in September. The money would be used to plug a hole in the Highway Trust Fund, which is normally used to pay for federal transportation projects. 

But the CBO said Thursday that Obama’s budget would still leave the Highway Trust Fund with a shortfall because the DOT needs to have at least $4 billion in the account to keep pace with infrastructure obligations. 

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