One hundred million dollars in new revenue would need to be generated through new taxes or transferring funds from other sources to achieve a six-year transportation bill, the Congressional Budget Office (CBO) reports.
According to The Washington Post, the $100 million injection would keep funding at current levels, which are short of what infrastructure experts say is needed to meet the nation’s needs. The Washington Post adds that “there is virtually no chance that Congress will find a solution before November’s midterm elections,” and that former Transportation Secretary Ray LaHood recently said the possibility of a transportation bill passing before the November election is “zero.”
In a related transportation bill-related development, the National Transportation Coalition submitted a letter to Congress signed by 17 state governors urging action on surface transportation.
