Would lower the gas tax that currently pays for most federal transportation projects from 18.4 cents-per-gallon to 3.7 cents in five years. During the same time period, the bill would transfer authority over federal highways and transit programs to states. This concept is known as "devolution" in transportation circles. The current transportation funding bill, a $109 billion measure that was passed in 2012, expires in September.
- Not enactedThe President has not signed this bill
- The house has not voted
- The senate has not voted
Committee on FinanceIntroducedNovember 14th, 2013
- senate Committees
What is Senate Bill S. 1702?
Cost of Senate Bill S. 1702
The Hill: The TEA Bill in Detail; Co-Sponosor Justification
-A related article from The Hill states:
The highway trust fund, which is used to pay for road and transit projects, is traditionally filled by revenue collected from the 18.4 cents per gallon federal gas tax. Infrastructure expenses have outpaced receipts for the gas tax by about $20 billion annually in recent years however, and the Congressional Budget Office (CBO) has [said the] project fund will run out of money this fall.
The gas tax brings in approximately $34 billion per year. However, the last transportation bill approved by Congress in 2012 included more than $50 billion in infrastructure spending, which advocates say is barely enough to scratch the surface of the nation's road and transit needs.
-The identical House version of this bill is H.R. 3486.