What is House Bill H.R. 5021?
This bill would fund surface transportation programs through May 2015. The bill plugs a 9.8 billion hole in the Highway Trust Fund with $9.8 billion from the Treasury's general fund. An additional $1 billion would, in poetic coincidence, be transferred from the LUST Fund, a separate federal fund used to deal with gasoline spills from underground storage tanks. The rest of the costs would be offset by raising corporate taxable income and increasing customs users fees.
Impact
The bill impacts the roads you drive on and the bridges you cross over.
Cost of House Bill H.R. 5021
The CBO has stated that this bill would transfer $9.8 billion from the general fund to the Highway Trust Fund. However, these costs would be offset by letting employers delay contributions to pension plans and upping customs users fees.
More Information
Media:
By all accounts, funding of transportation infrastructure has reached a crisis point. The Highway Trust Fund, the fund that pays for building and fixing things like roads and bridges, will effectively run dry at the end of July. A score of possible solutions have been put forth for filling the Highway Trust Fund back up. The Washington Post provides excellent overview here.
AKA
Highway and Transportation Funding Act of 2014
Official Title
To provide an extension of Federal-aid highway, highway safety, motor carrier safety, transit, and other programs funded out of the Highway Trust Fund, and for other purposes.
bill Progress
- EnactedAugust 8th, 2014The President signed this bill into law
- The senate Passed July 29th, 2014Roll Call Vote 79 Yea / 18 Nay
- The house Passed July 15th, 2014Roll Call Vote 367 Yea / 55 Nay
- house Committees
Fisheries, Wildlife, Oceans and Insular AffairsCommittee on Education and LaborCommittee on Energy and CommerceConsumer Protection and CommerceCommittee on Natural ResourcesCommittee on Science, Space, and TechnologyCommittee on Transportation and InfrastructureHighways and TransitCommittee on Ways and MeansIntroducedJuly 8th, 2014
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