WASHINGTON — Federal Highway Administrator Victor Mendez told state highway officials July 28 what to expect if the highway trust fund falls short in the coming weeks during a “no surprises” discussion.
“Unless we shore up the trust fund, we will have no other choice than to pay the states less frequently for road and bridge repairs,” Mendez said in a conference call with lead officials from 38 states and the District of Columbia. Mendez added that payments, currently made on a daily basis, could be made weekly or twice a month, depending upon the availability of funds.
The highway trust fund, which provides states about $40 billion each year for roads, bridges and other infrastructure projects administered by the states, often fluctuates and is expected to drop by the end of August. A shortfall would not shut down the Federal-Aid Highway Program, nor would it prevent states from using federal dollars for highway projects. However, it would affect how quickly FHWA reimburses states.
Department of Transportation officials continue to work closely with Congress to prevent disruptions in payments to the states.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info