To amend the Internal Revenue Code of 1986 to restore the Highway Trust Fund balance.
Latest Action
Became Public Law No: 110-318.
Official Summary
(This measure has not been amended since it was passed by the Senate on September 10, 2008. The summary of that version is repeated here.) Amends the Internal Revenue Code to transfer from the Treasury $8.017 billion to the Highway Trust Fund.
GovScope Watchdog™
AI Government Intelligence™This bill amends the Internal Revenue Code to transfer $8.017 billion from the Treasury to the Highway Trust Fund. The purpose is to restore the balance of the Highway Trust Fund, which finances federal highway and transit programs. The bill was passed by the Senate in 2008 and subsequently became law.
The bill provides a significant transfer of funds to the Highway Trust Fund to support transportation infrastructure financing.
- Amends the Internal Revenue Code of 1986.
- Transfers $8.017 billion from the Treasury to the Highway Trust Fund.
- Aims to restore the financial balance of the Highway Trust Fund.
Federal and state transportation agencies, infrastructure contractors, and potentially the general public through maintained or improved highway and transit systems may benefit from the restored funding.
The bill does not specify the source of the transferred funds beyond the Treasury, and the full bill text is not available to assess detailed implementation. There may be considerations regarding the impact on other Treasury obligations or budgetary tradeoffs.
This is a taxation-related bill originating in the House during the 110th Congress, signed into law in 2008. The latest action indicates it became Public Law No: 110-318 shortly after Senate passage.
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Restoring the Highway Trust Fund balance may support ongoing and future transportation projects, potentially affecting economic activity related to infrastructure development and maintenance.
The full bill text is not available, limiting detailed analysis of provisions. Citizens may want to review how the transferred funds impact other Treasury obligations and the overall federal budget. Monitoring the use of funds within the Highway Trust Fund could provide insight into the effectiveness of this transfer.
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