Okla. Weighs Highway Fund Shortfall Options
Federal Government May Delay Payments For Highway Projects
POSTED: 1:08 pm CDT September 7,
2008
UPDATED: 1:08 pm CDT September 7,
2008
OKLAHOMA CITY -- Oklahoma transportation officials are reviewing their options after news that the Federal Highway Trust Fund will run out of money at the end of the month.U.S. Transportation Secretary Mary Peters announced Friday that the federal account used to help pay for highway and bridge projects will run $200 million short of its commitments for the fiscal year that ends Sept. 30.That will mean a delay or a possible reduction in how much it gives to states to pay for road and bridge projects.
Peters blamed the funding shortage on high gasoline prices, which have led Americans to drive less and contribute a lesser amount of gasoline taxes.ODOT representative Terri Angier said officials will decide what recommendations to make to the Oklahoma Transportation Commission on Monday.Oklahoma receives about $500 million annually in federal funds for highway and bridge projects.
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