S TAT V I EW CBO projects that, starting in 2015, the highway account of the Highway Trust Fund will have insuf-
ficient revenues to meet its obligations, resulting in steadily accumulating shortfalls. That projection is based on two assumptions: that the taxes whose receipts are allocated to the highway account will continue at their current rates (most of those taxes are scheduled to expire at the end of September 2016) and that federal funding for highways will increase at CBO’s projected rate of inflation. To avoid such shortfalls, lawmakers would have to enact legislation to reduce highway funding, increase dedicated tax receipts, transfer money from the general fund of the Treasury to the Highway Trust Fund (as has occurred in recent years), or under- take some combination of those approaches.
Cash Flow of the Highway Account of the Highway Trust Fund Billions of Dollars, by Fiscal Year
60 40 20 0
-20 -40 -60 -80
-100 2000 2002 2004 2006 2008 2010 2012 2014 Congressional Budget Office 2016 2018 2020 2022 March 2013 •
WWW.CBO.GOV/PUBLICATION/43884 Actual Projected
Outlays Receipts
End-of-Year Balance of Shortfall
44
ARKANSAS TRUCKING REPORT | Issue 6 2013
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