U.S. Senate clears Highway Trust Fund fix

The U.S. Senate gave its approval to H.R. 6532, which will transfer $8 billion from the federal general fund into the highway account of the Highway Trust Fund. This will help to head off ongoing and anticipated future reductions in revenue coming into the highway account for FY 2009, and it simultaneously prevents states from losing federal highway reimbursement funds that could affect projects and/or exacerbate state fiscal conditions. It awaits the President’s expected signature.