The nation's drivers have reduce their driving by 40 billion miles to cope with high fuel prices, 3.7% fewer miles in May of this year than May of last year. This is more than double the drop off seen in April.
However fewer miles driven mean that fewer fuel taxes are collected, one of the primary ways the Highway Trust Fund is replenished. The Highway Trust Fund provides the money for all national transportation programs including road maintenance, bridge repair, and mass transit; current estimates show that it will have a deficit of $5 bilion by 2009.
DOT officials are trying to develop alternative funding mechanisms; in the meantime, the House approved an $8 billion transfer from the general fund into the highway fund. Similar legislation in the Senate was stalled by filibuster soon after.
Anecdotes show that Vermonters are also driving less.
[Sources: Wall Street Journal 7/28 & 7/24, International Herald Tribune, Land Line Magazine]
1 comment:
Thanks for sharing this information. This is a good reference in Driving declines reduce Highway Trust Fund, but would you please describe, how do you do your study regarding this article?
Regards,
Malcom Beverley
Sketza.com
Post a Comment