What would be impact of insolvent Highway Trust Fund?Jul 1, 2014
On July 1st, Anthony Foxx, U.S. Secretary of Transportation, issued a warning to states and transit agencies that federal funding for road projects and transit efforts will become limited and states should not expect same-day reimbursement for projects.
In fact, because the Highway Trust Fund is expected to run out of cash “in just a few weeks,” the Dept. of Transportation is being forced to implement a “cash management plan beginning Aug. 1” until such time that funding is restored to appropriate levels. What does that mean? It means construction projects and road maintenance around the country may grind to a halt.
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