Dive summary:
- A forecast that has construction equipment dealers very worried should be cause shivers among contractors, too, if highway work is important to their business.
- In testimony to Congress last week, Kim P. Cawley, head of the CBO's Natural and Physical Resources Cost Estimates Unit, said that unless Congress again shifts money from the annual budget into the fund, "Starting in fiscal year 2015, the trust fund will have insufficient resources to meet all of its obligations, resulting in steadily accumulating shortfalls."
- The dealers' group said that the loss of core highway investment of $36 billion annually would mean a 6.4-cent-per-dollar loss for them, which gives an indication of how large the damage would be for contractors.
From the article:
According to data released this week by the Congress Budget Office (CBO), in FY 2015, the Highway Trust Fund (HTF) will be unable to support any highway or transit spending, jeopardizing more than $50 billion in annual investment. ...