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Thu November 28, 2013
Ky. Faces Potential Loss of Federal Road Funds
Kentucky's transportation secretary is warning lawmakers that the state could lose nearly $650 million in federal funding in 2015 unless Congress shifts additional money into the Highway Trust Fund.
Mike Hancock told the Joint Transportation Committee earlier this week that all 50 states could experience the same financial wallop if the Highway Trust Fund isn't replenished. That fund, which receives federal gas tax revenue and redistributes it to states for road construction and maintenance, is forecast to run out of money in the 2015 fiscal year.
Hancock says he's hopeful general government money will be transferred to the Highway Trust Fund. Congress has routinely made such transfers beginning in 2008, when the fund ran short of cash.