PANEL ADDS $26 BILLION TO ISTEA-2

The Senate has shifted transportation funding reauthorization from neutral to overdrive with a committee agreement to boost the Intermodal Surface Transportation Efficiency Act-2 (ISTEA-2) $145 billion spending over 5 years by $25.8 billion. The new money comes from 3.4 cents of the 4.3-cents-per-gallon in fuel taxes shifted in 1997 from the U.S. Treasury to the Highway Trust Fund. The original 1991 ISTEA expired September 30, 1997, and Congress approved a short-term extension. However, states lose their ability to obligate new highway aid on May 1, 1998. The lack of a new bill by May 1 will affect 1,402 projects worth $2.5 billion in the April-June 1998 quarter and another 1,451 projects totaling $2.7 billion for the July-September period.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/08919526
• Corporate Authors:

  McGraw-Hill, Incorporated

  330 West 42nd Street
  New York, NY  United States  10036
• Authors:
  • Ichniowski, T
• Publication Date: 1998-3-9

Language

• English

Media Info

• Pagination: p. 16
• Serial:
  • ENR
  • Volume: 240
  • Issue Number: 10
  • Publisher: McGraw-Hill, Incorporated
  • ISSN: 0891-9526

Subject/Index Terms

• TRT Terms: Fuels; Government funding; Ground transportation; Legislation; Taxation
• Identifier Terms: Highway Trust Fund; Intermodal Surface Transportation Efficiency Act of 1991
• Uncontrolled Terms: Reauthorization
• Subject Areas: Energy; Finance; Highways; Law; I10: Economics and Administration;

Filing Info

• Accession Number: 00747949
• Record Type: Publication
• Files: TRIS
• Created Date: Apr 26 1998 12:00AM