Understanding you can act on
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| Published: | 2014-Sep-20 |
| Last Updated: | 2015-May-29 |
| Principal Writer: | Rob Dennis and Barry Shatzman |
 | Understanding The Issue |
 | Issue Status |
| Our Analysis and Actions |
| What You Can Do |
Tax Relief And #FixTheTrustFund For Infrastructure Certainty Act
2015 (S-1994)
Developing a Reliable and Innovative Vision for the Economy Act2015 (S-1647)
Transportation Empowerment Act2015 (HR-2716)
Surface Transportation Extension Act, Part II2015 (HR-3996)
Surface Transportation Extension Act2015 (HR-3819)
Surface Transportation and Veterans Health Care Choice Improvement Act2015 (HR-3236)
Highway and Transportation Funding Act2014 (HR-5021)
Moving Ahead for Progress in the 21st Century Act2012 (HR-4348)
Federal-Aid Highway Act1956 (HR-10660)
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Short-term extensions
On May 29, 2015 President Obama signed a 2-month extension to the Highway and Transportation Funding Act which will keep money in the Highway Transportation Fund through July 31.
However, no tax money (either through income taxes or increased fuel taxes) was allocated to support this funding. Instead, a method known as Pension Smoothing was used. Read our explanation of Pension Smoothing and you will see how it essentially is a loan to the federal government from the pension funds of employees who will have earned a pension when they retire. If the pension funds cannot be replenished, those future retirees either will be deprived of their pensions, or taxpayers will pay to keep them solvent.
To read more on the extensions to the Highway Trust Fund, click here.
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