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Highway Trust Fund

All articles tagged with #highway trust fund

government3 months ago•5 min saved

Bipartisan BUILD America 250 Act lines up historic five-year infrastructure push

House Transportation and Infrastructure leaders released the text of the BUILD America 250 Act, a bipartisan five-year surface-transportation bill that would fund major upgrades to roads, bridges, transit, rail, and safety programs. The plan includes the largest-ever investment in bridges (over $50B), expands passenger rail and safety measures, creates an autonomous commercial vehicle framework, and strengthens the Highway Trust Fund with new revenue. The lawmakers say the bill emphasizes efficiency, innovation, and faster project delivery, with hearings held and markup planned before the current authorization expires in September 2026.

via House Transportation and Infrastructure Committee (.gov)|

#bipartisan #bridges #government

business3 months ago•5 min saved

Industry Groups Push Back on Short-Term Federal Gas Tax Holiday

Trucking and construction trade groups oppose a proposed temporary pause on the 18.4-cent federal gas tax (and the 24.4-cent diesel tax), arguing it would drain the Highway Trust Fund and undermine highway and transit funding even as gas prices rise amid the Iran conflict; the idea has mixed support in Congress, with a three-month pause potentially adding billions to the deficit if no offset revenue is found.

via CNBC|

#business #gas-prices #gas-tax

politics3 months ago•7 min saved

Trump floats a temporary federal gas tax pause to curb rising pump prices

Trump proposes a temporary suspension of the federal gas tax to ease higher pump prices driven by the Iran war; it would require Congressional approval and could reduce Highway Trust Fund revenue by about $17 billion over five months, with uncertain relief for consumers and mixed bipartisan reactions as lawmakers weigh feasibility and budget impacts.

via The Washington Post|

#congress #energy-prices #gas-tax

politics3 months ago•2 min saved

Gas tax holiday stalls in Congress amid highway funding fears

Trump floated a temporary suspension of the federal gas tax to ease prices, but Congress and the White House remain split. Senate leaders signaled hesitation due to revenue loss that could hit the Highway Trust Fund, and critics argue any relief would be modest relative to price shocks from global events. A hypothetical waiver could cost about $14 billion for a May–November window, and while several 2028 contenders have endorsed similar ideas, it remains unclear whether the plan will gain political traction or fade as campaigning continues.

via Axios|

#congress #energy-policy #gas-tax

business3 months ago•4 min saved

Trump's Federal Gas Tax Pause Could Bring Modest Pump Relief

A proposed temporary suspension of the federal gasoline tax (18.4 cents per gallon) would likely trim pump prices only modestly, with regular gas dipping to about $4.34/gal and diesel to $5.39/gal, since recent price hikes have outpaced the levy. It would require congressional action and would reduce Highway Trust Fund revenue (roughly $2.1 billion per month), while state tax waivers may offer more meaningful relief; experts warn the policy could have unintended market effects and limited impact on overall prices.

via CBS News|

#business #federal-tax #gas-prices

politics3 months ago•7 min saved

Capitol Hill weighs Trump’s gas-tax pause amid funding and deficit concerns

President Trump’s proposal to suspend the federal gasoline tax is drawing attention on Capitol Hill but faces early GOP skepticism and concerns about funding the Highway Trust Fund; Hawley has introduced a 90-day halt, while others seek offsets or general-fund replacements, highlighting budget deficits as lawmakers weigh pump-relief against long-term financing in a period of high gas prices.

via Politico|

#capitol-hill #energy-policy #gas-tax-holiday

politics3 months ago•4 min saved

Trump proposes pausing federal gas tax to curb prices amid Iran tensions

Trump floated suspending the federal gas tax (18.3¢/gal gasoline, 24.3¢/gal diesel) for an unspecified period to help lower pump prices as the Iran conflict drives costs higher; such a suspension would require congressional approval and would drain the Highway Trust Fund by about $17 billion over five months. The plan’s effectiveness is uncertain, since the tax is collected at refineries and gas prices depend on many factors, and lawmakers from both parties have proposed varying approaches to relief while the administration has already taken steps like releasing oil reserves to ease prices.

via The Washington Post|

#gas-prices #gas-tax #highway-trust-fund

politics3 months ago•3 min saved

Trump proposes temporary suspension of federal gas tax

President Trump told CBS News he plans to suspend the federal gas tax for a period of time, a move that would require congressional action and would cost about $0.5 billion per week; Democrats have introduced bills to pause or lower the tax as gas prices rise amid Iran-related supply concerns, with revenue from the tax funding the Highway Trust Fund for roads and transit.

via CBS News|

#congress #energy-prices #gas-tax