The latest take on the state of the federal Highway Trust Fund issued by the
Congressional Budget Office (CBO) is brightly lit by a yellow caution light.
To avert a massive shortfall come 2015, CBO contends that Congress will have to sharply cut highway spending, transfer $14 billion from the Treasury’s general fund, pump up the federal fuel tax by some 10 cents a gallon, or deploy some combination of the three measures.