United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2002-03-20 monographic deposited born digital 22 p. GA 1.13:GAO-02-527T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-02-527T P0b002ee180399265 f:d02527t DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-02-527T machine generated eng fdlp REPORT GAOREPORTS-GAO-02-527T GAO-02-527T Federal aid for highways Trust funds Alternative energy sources Fuel prices Budget authority Accounting errors Highway Trust Fund Leaking Underground Storage Tank Fund Treasury General Fund Testimony A02923 The Highway Trust Fund, authorized by the Transportation Equity Act for the 21st Century, "guaranteed" specific annual funding levels for most highway programs on the basis of projected receipts to the fund. It further provided for annual adjustments to these funding levels based on actual receipts and revised projections of trust fund revenue. These adjustments are called the Revenue Aligned Budget Authority (RABA). The fiscal year 2003 RABA calculation appears reasonable based on the information GAO reviewed. While the RABA adjustment is clearly severe, it is a reflection of the multiple ways a downturn in the economy affects the calculation. In late January 2002, the administration announced that the fiscal year 2003 RABA adjustment would be a negative $4.965 billion. Within a few days of the announcement, the administration reported that an error had been made and the correct amount was a negative $4.369 billion--a $600 million difference. Treasury is taking steps to improve its internal controls in order to prevent this type of error from occurring again. The use of ethanol blended fuel (gasohol) instead of gasoline reduces Highway Trust Fund revenue because it is partially exempt from the standard excise tax on gasoline and 2.5 cents of the tax received on each gallon of gasohol sold is transferred to the General Fund. Further, gasohol use is projected to increase and the impact of these tax provisions will grow as well. There are several ways the RABA adjustment could be changed to help reduce fluctuations in highway funding. However, Congress and the administration must weigh the advantages and disadvantages of these and other ways to stabilize highway funding and increase Highway Trust Fund revenues. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-02-527T/html/GAOREPORTS-GAO-02-527T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-02-527T/pdf/GAOREPORTS-GAO-02-527T.pdf GAO-02-527T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-02-527T Testimony GAO-02-527T; Highway Financing: Factors Affecting Highway Funding Fluctuations and Revenue Trends; Federal aid for highways Trust funds Alternative energy sources Fuel prices Budget authority Accounting errors Highway Trust Fund Leaking Underground Storage Tank Fund Treasury General Fund