CBO Warns House Panel on Highway Trust Fund

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Source: ttnews.com/articles/petemplate.aspx?storyid=32519

WASHINGTON — A congressional subcommittee received a grim picture Tuesday of what lies ahead for the Highway Trust Fund if Congress and the White House do not find a way to pay for transportation before the fund is declared insolvent in 2015.

That year, there will be about $50 billion in outlays — if spending levels are the same as 2013 — but only $40 billion in receipts, Kim Cawley of the Congressional Budget Office said at a hearing of the House Transportation and Infrastructure Committee’s highways subcommittee.

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