NELSON APPLAUDS SENATE HIGHWAY TRUST FUND FIX

September 10, 2008 - Today, Nebraska's Senator Ben Nelson welcomed the Senate's approval to restore federal Highway Trust Fund money lost by a drop in fuel tax receipts caused by consumers decreasing fuel usage. The measure passed on a voice vote.

"This is good news for Nebraskans and will keep valuable Nebraska bridge and roads projects on track," said Nelson. "Highway projects provide jobs and invest in America’s future. The Department of Transportation estimates that for every $1 billion we spend on road projects, 47,500 jobs are created."

The Nebraska Department of Roads estimates that in Fiscal Year 2009, state highway system projects could receive $140 million in federal funds. In addition, local highway projects could receive $49 million in federal funds.

The bill passed today transfers $8 billion from the General Fund into the Highway Trust Fund. This restores the $8 billion that was transferred from the Highway Trust Fund to the General Fund in 1998 when federal gas tax receipts were filling up the Trust Fund due to increased driving.

The U.S. Department of Transportation reported a $4 billion decline in the Fund balance during the three month period from June to August of this year. This was caused by necessary spending during the peak of highway construction season coupled with the reduction in tax money received from gasoline sales to consumers.

"We must continue to invest in America's infrastructure. It's two for the price of one – we create thousands of jobs, while also building the roads and bridges necessary for commerce and travel within the U.S.," said Nelson.

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	Press Release	September 10, 2008
NELSON APPLAUDS SENATE HIGHWAY TRUST FUND FIX September 10, 2008 - Today, Nebraska's Senator Ben Nelson welcomed the Senate's approval to restore federal Highway Trust Fund money lost by a drop in fuel tax receipts caused by consumers decreasing fuel usage. The measure passed on a voice vote. "This is good news for Nebraskans and will keep valuable Nebraska bridge and roads projects on track," said Nelson. "Highway projects provide jobs and invest in America’s future. The Department of Transportation estimates that for every $1 billion we spend on road projects, 47,500 jobs are created." The Nebraska Department of Roads estimates that in Fiscal Year 2009, state highway system projects could receive $140 million in federal funds. In addition, local highway projects could receive $49 million in federal funds. The bill passed today transfers $8 billion from the General Fund into the Highway Trust Fund. This restores the $8 billion that was transferred from the Highway Trust Fund to the General Fund in 1998 when federal gas tax receipts were filling up the Trust Fund due to increased driving. The U.S. Department of Transportation reported a $4 billion decline in the Fund balance during the three month period from June to August of this year. This was caused by necessary spending during the peak of highway construction season coupled with the reduction in tax money received from gasoline sales to consumers. "We must continue to invest in America's infrastructure. It's two for the price of one – we create thousands of jobs, while also building the roads and bridges necessary for commerce and travel within the U.S.," said Nelson. ###