What is the Highway Trust Fund, and how is it financed? Q.What is the Highway Trust Fund, and how is it financed? A.The Highway Trust Fund finances most federal government spending for highways and mass transit. Revenues for the trust fund come from transportation-related excise taxes, primarily federal taxes on gasoline and diesel fuel. In recent years, however, the trust fund has needed significant transfers of general revenues to remain solvent. Read more about What is the Highway Trust Fund, and how is it financed?
What is reconciliation? Q.What is reconciliation? A.Congressional budget committees use the reconciliation process to ensure tax laws and mandatory spending programs are revised according to the budget resolution’s revenue and mandatory spending targets. Reconciliation is a way to fast-track revenue and spending legislation into becoming law. Read more about What is reconciliation?
What are rescissions? Q.What are rescissions? A.The rescission process allows a president to avoid spending money on discretionary programs that has been appropriated by the Congress, but not yet obligated for the purchases of goods and services. Read more about What are rescissions?
