Essay on The On Highway Trust Fund

Essay on The On Highway Trust Fund

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You might have heard recently that the United States Trust Fund is currently experiencing a solvency issue due to an increased cost associated with financing road projects. The members of the United States Congress, as well as numerous other influential leaders, have been discussing means of addressing this “broken” Highway Trust Fund. The budget deficit in the Highway Trust Fund has been an issue that affects every American but particularly those who are on a fixed budget. This issue has been consistently thrown on the back burner for some time now and due to this procrastination an issue that would have normally been an easy fix has ballooned into a much larger issue. Lately, when you turn on the news you too often see news reports of bridges collapsing and pot holes getting worse, it’s scary to think what would happen if our Government couldn’t find a solution. There have been numerous fixes proposed to fix the broken Highway Trust Fund, these fixes range from increasing the gas tax from its current level to imposing a one-time tax on profits held overseas. In addition to these two mainstream options, there has even been talk about the use of tollways to fund a public fund. In this article, I will briefly review these three main positions that address how to repair the looming budget deficit.
The proponents of the gas tax increase proposal claim that the current gas tax rate is too low and that without this proposed tax increase America’s interstates and highways could deteriorate to unseen levels caused by the growing budget deficits in the Highway Trust Fund. The advocates of using this option to repair the deficit state that with this route they would quickly balance the Highway Trust Fund by increasing its current revenue ...

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...ontinue the status quo. They both think the current system is broken and that is why they have proposed their drastically different ideas on how to accomplish this. The advocates on each side disagree where we should obtain the necessary revenues, either tollways or overseas profits. They also disagree on how long the slountion should last, the advocates of the overseas profit approach are more focused on the near to intermediate-term while the advocates of the tollway system are concentrated on the long-term.
Although all three options are vastly different they all seek to accomplish the same objective of fixing the Highway Trust Fund. This issue affects all Americans and can have huge implications for the economy and our well being. Hopefully by discussing these three options and the issue at hand, you better understand the reasons why this topic is so important.

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