Thursday, April 17, 2014

Federal HIghway Trust Fund going dry

This comes from Neil Cavuto on Fox.  He had a couple of guests, one who called to close it down for good and one who called for pumping it up with more of my tax money. 
   Me, I think we ought to shut it down, cancel the federal gasoline tax that goes into the fund, and let the states take care of roads and bridges.  The states do most of this already.  The Federal Highway Trust Fund was started up under the Eisenhower administration.  It earmarked all the federal gasoline tax money to building the interstate highway system.  Well, the interstates are all built, have been for 30 years.  So Congress critters dole out trust fund money to their districts whether it's needed or not.  Congress critters love that part. And, surprise, the districts always find a way to spend it, all of it.  When good old Tip O'Neill retired, his numerous friends in Congress decided do something nice for good old Tip.  They funded the Big Dig in Boston, a $14 billion dollar tunnel under the center of town.  The Big Dig was still being dug years after good old Tip died.  It didn't do much to improve Boston traffic, but it did open up a lot of prime real estate in the center of town.  Contractors all over Massachusetts loved the Big Dig. 
   The states have the resources to keep the country's roads and bridges in repair.  Thrifty New Hampshire, with out either a state income tax or a state sales tax, keeps it's roads in better shape  than bigger richer New York does.  And, when the state government has to raise the money for road work, it tends to stick to necessary work and skip the frills.  You can save a lot of money that way.  And, state funded projects don't have to pay the inflated Davis-Bacon wage rates that federal projects do. 

No comments: