Dive Summary:
- Direct transportation accounts face cuts of 7.6% to 9.4% if Congress and the president cannot settle their budget differences and mandatory sequestration – the "fiscal cliff" – happens on Jan. 2.
- The Highway Trust Fund would not be directly affected, but it would lose approximately $471 million it is supposed to receive under this year's MAP-21 transportation-funding law.
- Several other programs, including the TIGER program, would lose money if the mandatory reductions go into effect.
From the article:
On Sept. 14, the Obama administration released a report to Congress providing a first guess at how they will implement $1.2 trillion in automatic budget cuts – called sequestration – slated to begin on Jan. 2. ...
