Finding ways to replenish the dwindling source of US transportation funds could help lawmakers as they address next year’s most pressing issue: how to handle almost $4.6 trillion in tax cuts due to expire.
The Highway Trust Fund, which uses an increasingly obsolete gas tax rate to support transportation spending, is on track for bankruptcy in the next few years without further action from Congress. Addressing both the trust fund insolvency and the tax cliff gives lawmakers a chance to kill two birds with one stone if they can agree on a change, transportation and tax experts said.
“There’s not ...