John Cox, the president of the American Association of State Highway and Transportation Officials and the director of the Wyoming Department of Transportation, recently provided details about the Highway Trust Fund for two important congressional committees.
The testimony was in written form and was sent to the House Ways and Means Committee, which is hosting a hearing about long-term funding for the Highway Trust Fund. A similar meeting will be hosted by the Senate Finance Committee. Both of these committees are in charge of choosing how the nation will pay for surface transportation authorizing legislation.
In his statements, Cox made a record of the critical conditions currently facing the Highway Trust Fund.
"For almost 60 years, the Highway Trust Fund provided stable, reliable and substantial highway and transit funding," Cox said. "However, over the past seven years this has not been the case. Since 2008, almost $62 billion has been transferred from the general fund to the Highway Trust Fund to keep it solvent.
"There is ample documented evidence that shows infrastructure investment is critical for long-term economic growth, increasing productivity, employment, household income, and exports. Conversely, without prioritizing our nation's infrastructure needs, deteriorating conditions can produce a severe drag on the overall economy. Whichever revenue tools are utilized, at a minimum, it is crucial to identify solutions that will sustain the MAP-21 level of surface transportation investment in real terms."
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