1、CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i $7.569 Billion Highway Rescission Approaches Robert S. Kirk Specialist in Transportation Policy November 1, 2019 Current funding for the Federal-Aid Highway Program is authorized through September 30, 2020, by the Fixing A
2、mericas Surface Transportation Act (FAST Act; P.L. 114-94). However, Section 1438 of the act directs that on July 1, 2020, $7.569 billion of the unobligated balances of highway formula funds apportioned to the states under the law be permanently rescinded. Rescissions are provisions in law that canc
3、el the availability of previously enacted budget authority before the budget authority would otherwise expire. Why the Rescission Was Included in the FAST Act The Highway Trust Fund (HTF), which is supported mostly by taxes on gasoline and diesel, has been receiving insufficient tax revenue and inte
4、rest to support the authorizations that Congress has passed. Since 2008 Congress has been using transfers, mostly from the Treasury general fund, to make up the shortfalls. The FAST Act transferred $70 billion in Treasury general funds to the HTF. Under the FAST Act, 92.5% of the funding was authori
