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Highway Trust Fund Ticker

As the two graphs below indicate, both the Highway Account and the Mass Transit Account of the Highway Trust Fund are nearing insolvency. With the Highway Account expected to become insolvent by the end of August, the Department of Transportation will implement a cash management plan beginning August 1 to manage the flow of federal dollars. Under this plan, reimbursements to states for infrastructure work will be limited to the available cash in the Trust Fund.  We will distribute incoming funds in proportion to each state’s federal formula apportionment in the fiscal year.

Highway Account

Chart depicting end-of-month balances for the Highway Account

Based on current spending and revenue trends, the U.S. Department of Transportation estimates that the Highway Account of the Highway Trust Fund will encounter a shortfall before the end of fiscal year (FY) 2014.

  • The Highway Account began FY 2014 with approximately $1.6 billion in cash.
  • A $9.7 billion transfer from the General Fund to the Highway Account was processed shortly after the start of the fiscal year ($10.4 billion authorized in MAP-21, reduced by sequestration).
  • The cash balance has dropped by nearly $5.4 billion since the General Fund transfer occurred.  As of June 27, 2014, the Highway Account cash balance was $6.5 billion.

Mass Transit Account

Chart depicting end-of-month balances for Mass Transit Account

Based on current spending and revenue trends, the U.S. Department of Transportation estimates that the Mass Transit Account of the Highway Trust Fund will have a balance of approximately $1.1 billion at the end of FY 2014.

  • The Mass Transit Account began FY 2014 with approximately $2.5 billion in cash.
  • A $2 billion transfer from the General Fund to the Mass Transit Account was processed shortly after the start of the fiscal year ($2.2 billion authorized in MAP-21, reduced by sequestration).
  • The cash balance has dropped by $2.0 billion since the General Fund transfer occurred. As of June 27, 2014, the Mass Transit Account cash balance was $2.5 billion.
Updated: Wednesday, July 16, 2014