Pension Smoothing

Oil prices are at a five-year low with gasoline prices averaging $2.67 a gallon, lowest since February 2010. Furthermore, they are expected to drop another 17 cents to $2.50 a gallon in time for Christmas, so why not raise the gas tax by a nickel?

December 10, 2014 - The Atlantic

A huge challenge for the next Congress will be finding the funds to keep the Highway Trust Fund solvent when the current patch expires on May 31.

November 14, 2014 - The Washington Post

After the House rejected the Senate's amendments to their Highway Trust Fund extension bill, the Senate passed the bill 81-13 on July 31. Payments to states will continue unchanged through May 2015 when the next hurdle awaits

August 1, 2014 - The Hill

Three days before Congress goes on recess and with the Highway Trust Fund approaching insolvency, the Senate passed a transportation bill notably different than the House version passed July 15, setting up a showdown between the two branches.

July 30, 2014 - POLITICO Pro.

The Senate will hear four amendments to the House bill, passed July 15, in the last week of July. Sens. Boxer, Carper, and Corker want the funding extension to terminate on December 19 rather than May 31. On August 1, DOT reduces payments to states.

July 27, 2014 - The Wall Street Journal

By a vote of 367-55, the House passed Rep. Dave Camp's "pension smoothing" bill to provide ten months of funding for the deficit-plagued Highway Trust Fund through May. A long-term (five- or six-year) funding plan will be attempted then.

July 16, 2014 - Politico Morning Transportation

Patch bills advanced in the Senate and the House on Thursday that would keep the Highway Trust Fund solvent through May 2015—good news for state DOTs that will see reduced federal reimbursements on August 1 unless a funding bill is passed soon.

July 12, 2014 - Politico Morning Transportation