Transportation Funding

The U.S. Wants to “Borrow” From Transit to Pay for Highways

Like a burned-out addict stealing to support a meth habit, U.S. Transportation Secretary Mary Peters said yesterday that due to declining gas tax revenues, the Highway Trust Fund would need to borrow money from its mass transit account to pay for road projects. Today's big news story was buried at the bottom of page A17 in the New York Times:

By Aaron Naparstek

9:53 AM PDT on July 29, 2008

Like a burned-out addict stealing to support a meth habit, U.S. Transportation Secretary Mary Peters said yesterday that due to declining gas tax revenues, the Highway Trust Fund would need to borrow money from its mass transit account to pay for road projects. Today’s big news story was buried at the bottom of page A17 in the New York Times:

Gasoline tax revenue is falling so fast that the federal government
may not be able to meet its commitments to states for road projects
already under way, the secretary of transportation said Monday.
The
secretary, Mary E. Peters, said the short-term solution would be for
the Highway Trust Fund’s highway account to borrow money from the
fund’s mass transit account, a step that would balance the accounts as
highway travel declines and use of mass transit increases.

Meanwhile, America’s historically underfunded transit systems are also struggling with rising fuel prices and record demand. No word yet on how taking money away from transit to pay for highways fits in to George W. Bush’s plan to end America’s oil addiction.

Aaron Naparstek

AARON NAPARSTEK is the founder and former editor-in-chief of Streetsblog. Based in Brooklyn, New York, Naparsteks journalism, advocacy and community organizing work has been instrumental in growing the bicycle network, removing motor vehicles from parks, and developing new public plazas, car-free streets and life-saving traffic-calming measures across all five boroughs. Naparstek is the author of "Honku: The Zen Antidote for Road Rage" (Villard, 2003), a book of humorous haiku poetry inspired by the endless motorist sociopathy observed from his apartment window. Prior to launching Streetsblog, Naparstek worked as an interactive media producer, pioneering some of the Web's first music web sites, online communities, live webcasts and social networking services. Naparstek is currently in Cambridge with his wife and two young sons where he is enjoying a Loeb Fellowship at Harvard University's Graduate School of Design. He has a master's degree from Columbia University's Graduate School of Journalism and a bachelor's degree from Washington University in St. Louis, Missouri. Naparstek is a co-founder of the Park Slope Neighbors community group and the Grand Army Plaza Coalition. You can find more of his work here: http://www.naparstek.com.

Transportation Funding | Transportation Policy

Streetsblog has migrated to a new comment system. New commenters can register directly in the comments section of any article. Returning commenters: your previous comments and display name have been preserved, but you'll need to reclaim your account by clicking "Forgot your password?" on the sign-in form, entering your email, and following the verification link to set a new password — this is required because passwords could not be carried over during the migration. For questions, contact tips@streetsblog.org.