“Treasury Secretary Snow and I have delivered to Congressional
leadership this morning (Feb. 3) a letter reaffirming the
Administration’s position on the appropriate funding
level for the surface transportation reauthorization known
As Congress gets set to begin work on the proposal, we felt
it necessary to restate three important principles that must
be followed if we are to recommend to the President that he
sign any bill coming from the Hill.
“First, transportation infrastructure spending should
not rely on an increase in the gas tax or other federal taxes.
“Second, transportation infrastructure spending should
not be funded through bonding or other mechanisms that conceal
the true cost to federal taxpayers.
“And third, highway spending should be financed from
the Highway Trust Fund, not the General Fund of the Treasury.
“And our letter is very clear on one other important
point. If a surface transportation reauthorization bill that
breaches any of these three principles were presented to the
President, his senior advisors would recommend that he veto
"The Administration’s proposal gets the job done,
without raising taxes or increasing the deficit. And both
Secretary Snow and I look forward to working with Congress
to pass the bill as soon as possible.”