Historically, most federal spending for highways, bridges, and mass transit has been paid for by revenues that are credited to the Highway Trust Fund—largely those from excise taxes on gasoline and diesel fuel. For more than two decades, those revenues have fallen short of federal spending on highways, prompting transfers from the Treasury's general fund to the trust fund to make up the difference. CBO projects that balances in the Highway Trust Fund will be exhausted in 2028.
This presentation provides an overview of the following:
Projected cash inflows, outlays, and balances of the Highway Trust Fund;
Possible options that would affect Highway Trust Fund balances; and
The composition of Highway Trust Fund revenues and selected projections.
