Renacci, local officials discuss Highway Trust Fund

Rep. Jim Renacci (R-OH) on Monday hosted a discussion with more than 20 local elected officials and key stakeholders to examine local transportation projects and share ideas on how Congress should address the Highway Trust Fund, which will run out of money in around 60 days.

Renacci is a member of the Ways and Means Committee, which has jurisdiction over the fund.

“Last year, America’s deteriorating roads cost drivers more than $67 billion in repairs and operating costs, or about $324 per driver,” Renacci said. “Today’s roundtable was informative as it emphasized just how important it is that we ensure infrastructure projects in Cleveland and around the country receive the certainty and necessary funding they need to move forward and keep our drivers safe.”

Approximately 80 percent of highway funding comes from the federally administered fund. The trust fund apportions approximately $50 billion annually to the states for system upkeep, but about $16 million more is spent each year than the trust fund allocates.

“I will not pass on the liability of deteriorating roads and bridges to our children and grandchildren. We need to act now to fix the system,” Renacci said. “That is why I am working on legislation that allows for the consideration of all viable options so that Congress can get serious about finding a long-term, sustainable solution for the Highway Trust Fund.”