[Congressional Record Volume 160, Number 112 (Thursday, July 17, 2014)]
[Extensions of Remarks]
[Pages E1185-E1186]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             HIGHWAY AND TRANSPORTATION FUNDING ACT OF 2014

                                 ______
                                 

                               speech of

                             HON. RUSH HOLT

                             of new jersey

                    in the house of representatives

                         Tuesday, July 15, 2014

  Mr. HOLT. Mr. Speaker, I rise today in opposition to this short-term 
highway bill because it fails to provide a funding mechanism that will 
guarantee the long-term solvency of the highway trust fund which is 
needed to spur investments in our nation's roadways, bridges, and 
public transportation infrastructure.
  This is just another example of our failure to govern, and as a 
result we are sacrificing the jobs and economic development that are 
critical to the progress of our nation.
  This is that same scenario that has occurred under the Republican 
leadership of the House over and over again: when we passed the last 2-
year highway bill, with the farm bill, with the budget and debt 
ceiling.
  These short-term extensions and governing by crisis make it nearly 
impossible to plan for future infrastructure needs. We have a crumbling 
infrastructure. We can't keep pretending to fund through phony 
accounting gimmicks. We actually have to put money into it.
  About 90 percent of the revenue in the Highway Trust Fund is 
generated by a federal 18.4-cent-per-gallon tax on gasoline and a 24.4-
cent-per-gallon tax on diesel fuel.
  Federal fuel taxes have not been increased since 1993, and because of 
this stagnation the

[[Page E1186]]

gas taxes' buying power is about 40 percent below that in 1993.
  If those taxes had been adjusted to keep pace with the consumer price 
index, for example, the tax on gasoline, which is currently 18.4 cents 
per gallon, would be about 30 cents per gallon, and the tax on diesel 
fuel, currently 24.4 cents per gallon, would be about 40 cents per 
gallon.
  Other factors, such as increases in fuel efficiency, have reduced 
demand for fuel, causing the fund's overall revenues to fall.
  Rather than proposing a bill that guarantees a long-term funding 
mechanism, such as an increased gas tax, the House brought to the floor 
legislation to fund highway projects for 8 months with a series of 
accounting gimmicks and one-time fund transfers.
  The highway bill passed in the last Congress only authorized funding 
for two years. For two years we have known that this problem was 
coming, yet the House Ways & Means Committee has not had a single 
hearing on transportation finance.
  We need to act to invest in our nation's transportation system, but 
under this bill we are simply dodging a problem. A real solution will 
require the political courage and leadership that we have failed to 
demonstrate here in the House, today.

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