Highway Trust Fund Will Go Broke in Mid-August 2014

U.S. DOT projects that at current spending and revenue rates, the Highway Account of the Highway Trust Fund will reach a zero balance shortly after the first week of August

The U.S. DOT projects the Highway Account of the Highway Trust Fund will fall at current expenditure and receipt rates to a zero balance shortly after the first week of August.
The U.S. DOT projects the Highway Account of the Highway Trust Fund will fall at current expenditure and receipt rates to a zero balance shortly after the first week of August.

Based on current spending and revenue trends, the U.S. Department of Transportation estimates that the Highway Account of the Highway Trust Fund will encounter a shortfall before the end of fiscal year (FY) 2014.

U.S. DOT's Highway Trust Fund Ticker, updated January 15, actually projects the Highway Account will have a zero balance shortly after the first week of August. The Mass Transit Account is expected to make it to the September 1 start of the next federal fiscal year with a $440 million balance. 

The Highway Account began FY 2014 (September 1, 2013) with approximately $1.6 billion in cash. A $9.7 billion transfer from the General Fund to the Highway Account was processed shortly after the start of the fiscal year ($10.4 billion authorized in MAP-21, reduced by sequestration).

The surface transportation program continues to outlay at a greater pace than receipts come in, and the account's cash balance has dropped by nearly $3.4 billion.

The Mass Transit Account began FY 2014 with approximately $2.5 billion in cash. A $2 billion transfer from the General Fund to the Mass Transit Account was processed shortly after the start of the fiscal year ($2.2 billion authorized in MAP-21, reduced by sequestration).

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