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2016 Postmortem
Related: About this forumCBO: Republican Surface Transportation Proposal Bankrupts Highway Trust Fund
http://democrats.transportation.house.gov/press-release/breaking-news-%E2%80%93-cbo-republican-surface-transportation-proposal-bankrupts-highway-trustWashington, D.C. According to a new analysis released this afternoon by the non-partisan Congressional Budget Office (CBO), the Republican Leaderships surface transportation bill that the House is expected to act on later this week would bankrupt the Highway Trust Fund by 2016 and create a $78 billion funding shortfall over a ten-year period.
The Republican Leaderships partisan signature jobs bill is not sustainable, and would lead Americas transportation programs down a reckless path toward bankruptcy, said U.S. Representative Nick J. Rahall (D-WV), top Democrat on the House Transportation and Infrastructure Committee. There is no doubt we need to pass a long-term bill that creates certainty, but the only thing this bill does is make certain the Highway Trust Fund will go belly up even before the end of the bill.
New projections released today by CBO show the balance of the Highway Account of the Highway Trust Fund will go broke by fiscal year 2016 under the Republican Leaderships controversial plan. Over a ten-year period, the bill would create a $78 billion funding shortfall in the Highway Trust Fund, adding greater uncertainty to the future integrity of surface transportation programs.
Despite attempts by Republican Leadership to cobble together a hodgepodge of funding that included giveaways to Big Oil, cutting pensions for middle-class American workers, and a bailout from the General Fund, the bill is going to create a huge funding shortfall that will jeopardize the ability of States and local communities to move forward with construction projects down the road, said Rahall. Instead of working with Democrats in a bipartisan fashion to create jobs, Republicans are advancing a partisan proposal that will destroy 550,000 American jobs while putting the future of transportation programs in doubt.
Attached is CBOs analysis of H.R. 7, which is also available on the House Transportation and Infrastructure Committee Democrats Website at: http://go.usa.gov/QET
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CBO: Republican Surface Transportation Proposal Bankrupts Highway Trust Fund (Original Post)
Bill USA
May 2014
OP
They would privatize everything into their friends' hot, greedy little hands. SOMEBODY'S going to
blkmusclmachine
Jun 2014
#2
kairos12
(12,858 posts)1. Rethug goal to privatize everything.
blkmusclmachine
(16,149 posts)2. They would privatize everything into their friends' hot, greedy little hands. SOMEBODY'S going to
make out "like a bandit." The GOP will see to it!