With the
current expiration date on short term federal surface transportation funding of
May 31, 2015 rapidly approaching, state and local governments are once again
facing the prospect of stalled road, bridge, waterway and rail construction
projects while Congress attempts to find a new source of funding for long term
infrastructure upkeep. Lagging revenues from the motor fuel tax need to be
augmented with higher rates or new sources of money, and meanwhile the Obama
administration’s $478 billion, six year “Grow America” appropriation bill
remains stalled in Congressional committees on Capitol Hill.
Vice
President Biden’s speech Monday to kick off Infrastructure Week notwithstanding,
it seems highly unlikely there will be any Congressional action on long term federal
funding for surface transportation projects at any time soon. Short term
extensions of the National Highway Trust Fund appropriations will most likely
continue until after our next presidential election.
