WASHINGTON, D.C. – Yesterday, U.S. Rep. Glenn ‘GT’ Thompson (PA-5) voted to support H.R. 5021, the Highway and Transportation Funding Act of 2014.
It authorizes funding to address a looming shortfall to the Highway Trust Fund (HTF) and extends federal surface transportation programs through May of 2015. It passed the U.S. House of Representatives with bipartisan support by a vote of 367-55.
“This bipartisan agreement ensures stable funding for the Highway Trust Fund so critical investments in infrastructure can continue during these critical summer months,” stated Thompson.
“It remains my priority to support a long term transportation reauthorization, which will include a fiscally sound and reliable funding source, so that states and local planning agencies will have some certainty, our economy will keep moving, and most importantly, that we can improve the safety of our roads and bridges.”
In July of 2012, Congress reauthorized federal surface transportation programs and provided funding intended to maintain the solvency of the HTF through September 30, 2014.
Although initially projected to provide sufficient funding through September, the HTF is expected to encounter a shortfall this summer. The HTF comes from dedicated revenues from the federal gas tax. A combination of fuel efficiencies and fewer vehicle miles traveled by the American public has led to a declining HTF balance.
H.R. 5021 authorizes federal-aid highway and transit programs for eight months, through May 31, 2015.