He was criticized for failing to put forward a plan during the last funding debate.
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.
Transportation Secretary Anthony Foxx is scheduled to visit Georgia and Alabama on Wednesday as he continues his eight-state bus tour to push Congress to approve a new round of infrastructure funding.
Foxx is making the sixth, seventh and eight stops on his “Invest in America” bus in Atlanta, Birmingham and Anniston, Ala. The bus trip comes as the transportation department announced this week that it was moving up its projected bankruptcy date for the trust fund that is used to pay for road and transit projects to the end of August.
The DOT’s Highway Trust Fund had previously been forecasted to run out of money in September.
Sen. Patty Murray said the update should serve as a wake-up call for Congress.
Transportation Secretary Anthony Foxx is launching his national bus tour to push lawmakers to approve a new round of road and transit funding with three stops in Ohio on Monday.
Foxx is scheduled to visit Lockbourne, Dayton and Norwood, Ohio, as he argues for a new transportation funding bill.
The bus tour comes as lawmakers face a Sept. 30 deadline to approve new transportation funding before the current legislation expires. Additionally, the Congressional Budget Office (CBO) has projected that the transportation department’s Highway Trust Fund will go bankrupt as early as August without congressional action.
The announcement fell short of the specific funding proposal that advocates had hoped for.
Transportation Secretary Anthony Foxx is launching a national bus tour to push lawmakers to approve a new round of road and transit funding.
The bus tour comes as lawmakers face a Sept. 30 deadline to approve new transportation fuding before the current legislation expires. Additionally, the Congressional Budget Office (CBO) has projected that the transportation department’s Highway Trust Fund will go bankrupt as early as August without congressional action.
The DOT said Foxx will travel to eight states next week to “make the case for a robust multiyear federal investment as proposed by the Obama administration that will address the current shortfall and meet the country’s future needs, all without adding to the deficit.”
Lawmakers in the Senate are preparing to make a “major” announcement about transportation funding on Thursday as lawmakers race to beat a deadline for a bankruptcy in the pool of money that is used to pay for road transit projects.
The announcement will come from the top lawmakers on the Senate Environment and Public Works Committee.
The lawmakers “will make a major announcement regarding the reauthorization of the transportation bill, entitled Moving Ahead for Progress in the 21st Century (MAP-21)” on Thursday morning, the panel announced.
The Senate Budget Committee chairwoman says the fund could run out by July.
A week after focusing on General Motors handling of recalls on over a million of its cars, lawmakers will turn their attention to space this week.
The Senate Commerce, Science and Transportation Committee is scheduled to hold a hearing on Wednesday about NASA’s “exploration strategy, international cooperation in space, and commercial space efforts.”
The hearing, which will be chaired by Sen. Bill Nelson (D-Fla.), will be titled “From Here to Mars.”