Monday, September 8th 2008, 8:00 am
OKLAHOMA CITY -- The Oklahoma Transportation Commission has postponed almost $83 million in state highway projects because of a projected shortfall in the federal Highway Trust Fund.
Transportation Director Gary Ridley said Monday the slowing economy and conservation efforts due to high gas prices has meant fewer transportation dollars are flowing into the federal fund.
"For us it's our livelihood. It's our life," said ODOT's Gary Ridley.
Ridley says Oklahoma and other states tap into the fund to reimburse state spending on federally approved road projects. But U.S. Transportation Secretary Mary Peters says the fund could be exhausted as early as next week.
Ridley says Congress and President Bush must act quickly to avoid prolonged delays in state highway projects.
ODOT officials' action at Monday's meeting:
Officials also will look for ways to stop construction on existing projects while maintaining public safety.
Oklahoma Sen. Jim Inhofe has announced his support for legislation to restore $8 billion to the Highway Trust Fund.
Oklahomans historically have paid more into the fund than they receive in the form of federal highway construction projects, officials said.
Federal dollars make up 85 percent of the ODOT construction work plan while state revenues are focused on day-to-day repairs and routine upkeep, officials said.
September 8th, 2008
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