Purpose of a trust

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Please forward this error screen to 185. The Highway Trust Fund is a transportation fund in the United States which receives money from a federal fuel tax of 18. 4 cents per gallon on gasoline and 24. 4 cents per gallon of diesel fuel and related excise taxes.

Prior to the Federal Aid Highway Act of 1956 and the establishment of the Highway Trust Fund, roads were financed directly from the General Fund of the United States Department of the Treasury. 8 billion from general revenue funds to cover a shortage in the fund. This shortage was due to lower gas consumption as a result of the recession and higher gas prices. 5 billion were made in 2009 and 2010 respectively. Senator Hillary Clinton endorsed this idea soon afterwards while Senator Barack Obama opposed the suspension. Since 2000, there have been at least half a dozen attempts by individual members of Congress to suspend the federal gas tax, which raises money to repair and expand the highway system. 35 billion from the General Fund of the U.

Treasury to keep the trust fund solvent. 2012 that the fund’s Highway Account and Mass Transit Account would become insolvent by 2014. Congressional reduction of Trust Fund spending commitments. Chamber of Commerce supported raising the federal gasoline tax to keep the fund solvent. The United States Congress passed a stopgap plan on July 31, 2014 to prevent a funding lapse. As of 2015, despite a considerable drop in gas prices, there was still little support among the US public or Congress for an increase of the gasoline excise tax. Democrats Divided Over Gas Tax Break”.

When did the Federal Government begin collecting the gas tax? Highway Trust Fund Is Nearly Out of Gas”. 5 Billion for Highway Trust Fund”. Status of the Highway Trust Fund”.