2/13/2012 4:00:00 PM
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President Obamaâ€™s proposed budget would spend $476 billion on transportation over the next six years â€” a nearly 50% increase over current levels.
The transportation spending plan is contained in the $3.8 trillion Fiscal Year 2013 budget the White House unveiled on Monday.
The plan calls for an immediate $50 billion infusion in spending this year, with about $38.5 billion per year being transferred from the U.S. general fund, offset by â€œreduced overseas military expenditures,â€� the administrationâ€™s budget document said, Bloomberg News reported.
Funding for the Federal Motor Carrier Safety Administration would increase 5% to $580 million in 2013, from $554 million in 2012.
FMCSA is struggling to meet deadlines for new regulations on an array of trucking issues such as a rule on electronic onboard recorders, a national registry of certified medical examiners and minimum training requirements for entry level drivers.
Federal Highway Administration funding would increase to $42.6 billion in fiscal 2013, from $39.9 billion in 2012.
National Highway Safety Administration spending would rise to $981 million in 2013, from $800 million in 2012.
The federal Highway Trust Fund, which finances U.S. transportation projects using vehicle-fuel taxes, faces insolvency as soon as October, according to the Congressional Budget Office, Bloomberg said.
The president and some Republicans have ruled out raising the taxes to fill the funding gap, Bloomberg reported.
Â© 2012, Transport Topics Publishing Group. All rights reserved.
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