Study Says Highway Fund Headed for Bankruptcy

ASHINGTON — The Highway Trust Fund is headed for bankruptcy unless steps are taken to change how the government funds highway and transit programs, warned a report issued by the U.S. Chamber of Commerce’s policy research organization.

The report, issued by the National Chamber Foundation Nov. 3 at a Chamber of Commerce event here, said combined state and federal contributions to the nation’s highway and transit systems will fall $500 billion short of what is needed to maintain the current system between 2006 and 2015.

Annual revenues for the Highway Trust Fund from the federal level “will fall $23 billion short [each year] of what we need to maintain our highways and transit systems,” said Gerald Shaheen, vice chairman of the U.S. Chamber. He is also a group president with Caterpillar Inc., where he is responsible for producing large construction and mining equipment, according to its Web site.