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There’s good news and bad news in a new Government Accountability Office (GAO) report on the Highway Trust Fund. Thanks to a $30 billion injection from the federal Fund since FY 2008, every state in the union has collected more from the federal Highway Trust Fund than its citizens contributed in motor fuels taxes. Yippee!
Trouble is, sooner or later Congress will get its act together and start looking for places to cut the deficit and a good place to start whacking is the subsidy to the Highway Trust Fund. It’s looking increasingly likely that the feds will revert to its previous, long-held policy of dispensing no more money than they bring in from the motor fuels tax. When that happens, most states will go underwater. Virginians will dive so deep that we’ll have to slap on SCUBA tanks.
As it happens, the Old Dominion is one of ten states that share the distinction of receiving only 91.3% of the national norm of federal highway dollars. Hey, Northern Virginia, you think you’re getting reamed by Richmond? Look across the Potomac! — JAB
