MAYS LANDING – A senior member of the House Transportation and Infrastructure Committee, U.S. Rep. Frank A. LoBiondo (R-2nd) on Sept. 5 issued the following statement after the U.S. Department of Transportation announced that the Highway Account of the Highway Trust Fund will be insolvent this month due to significant decreases in revenue from gas tax receipts and increased requests from state DOTs for funding.
“Today’s announcement is deeply troubling and should serve as a wake-up call to the U.S. Senate. With the economy increasingly strained and consumers trying to make the most of every penny and every gallon of gasoline, we cannot have vital highway projects, including those in South Jersey and across the state, be delayed or cancelled. The shut-down of the Highway Trust Fund threatens thousands of well-paying jobs and the public’s safety,” said LoBiondo. “In July, the House took a decisive and bipartisan approach to preventing this crisis – it is time for the Senate to follow our lead and protect this critical component of our economy.”
The Highway Trust Fund depends on taxes on gasoline and diesel fuel and is dedicated to maintaining and improving the nation’s highways and transit systems.
With $4.2 billion at the end of July, the Highway Account was originally expected to be solvent until spring 2009. Now, there is less than $1.4 billion left in the account.
Earlier this spring, LoBiondo cosponsored recent legislation, the “Highway Trust Fund Restoration Act” that addresses the expected shortfall by providing $8 billion to the Highway Trust Fund. The bill passed the House with strong bipartisan support – 387 to 37 – in July. At present, the Senate Majority Leader has not scheduled a vote on the bipartisan legislation, according to a release.
Cape May – Governor Murphy says he doesn't know anything about the drones and doesn't know what they are doing but he does know that they are not dangerous. Does anyone feel better now?
