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"Bury it!" |
Highway program funding levels are tied to estimates of Highway Trust Fund
(HTF) receipts made at the
time of enactment of TEA-21, and these levels are adjusted each year to
reflect the latest information on
HTF receipts.
Revenue Aligned Budget Authority (RABA) is the annual calculation of this
adjustment, and is intended to
ensure that highway funding is aligned with actual and anticipated revenue
to the Highway Account of the
HTF
RABA calculation is not driven by policy, but rather is determined by formula.
In total for FYs 2000-2002, RABA has provided an additional $9 billion in highway funding.
Due to the recent economic slowdown and current projections of future HTF
revenues, we will experience
in FY 2003, for the first time, a downward adjustment of TEA-21 projected
funding levels.
The following table illustrates the impact of RABA on the Federal-aid highway program