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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: longnshort who wrote (146678)11/10/2008 1:17:15 PM
From: cirrus1 Recommendation  Read Replies (2) of 173976
 
It appears you are correct to a point. If I understand it correctly the Treasury collects the money into the General Fund and then credits the Highway Trust Fund - as it does the Social Security Trust fund. The Treasury is in essence a bank that holds the Highway Trust Funds until disbursement.

However, saying that there's no money in the Highway Trust Fund is like saying that there's no money in my checking account even though I show a balance.

Of course, if the S&L holding my checking account were run like the federal government... essentially bankrupt... well...

Obviously if disbursements exceed revenues, as happened recently, the fund would be depleted and either revenues would need to be increased or expenditures curtailed, but that's doesn't alter the intent of my original post that perhaps user fees would be a better way to finance infrastructure projects.

The process for collecting and distributing Highway Trust Fund moneys is summarized in figure 1. As it shows, the basic process involves receiving money from business entities and individual taxpayers, passing it into Treasury’s General Fund and determining how much should be transferred into the Highway Trust Fund, determining how much is available in the Highway Trust Fund for disbursement, and then distributing this money to the states or allocating it to specific projects.

gao.gov
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