Thu July 10, 2014
TDOT Projects In Limbo
Unless Congress replenishes the Federal Highway Trust Fund, it will become insolvent on August 1st.
Schroer said the loss of the funding could cut TDOT's $1.8 billion budget in half. If the fund runs out, TDOT will get only 70 percent reimbursement for costs associated with federally aided projects.
Schroer says that means that some projects will stop, as a result. The state has already delayed 13 projects totaling more than $100 million in anticipation of that shortfall.
If the fund is insolvent, federal payments to state transportation agencies could stop October 1st.
Short-term relief may be available, but Schroer said even that funding would run out in December or March.