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Pensions should pay for retirement, not roads

Gimmick pays for highway bill, not users

March 14, 2012

Retirement accounts and pensions should be paying retirees, not paying transportation projects says U.S. Senator Mike Enzi, R-Wyo., who issued the following statement after voting against the final version of the highway bill:

“There is an honest way to fund transportation projects and then there is how this
bill is funded. It relies on a budget gimmick that pays for two years of spending with ten years of revenue. That means we are spending five times faster than the revenue is coming in. Everyone wants to have quality roads, sound bridges, and a strong infrastructure. The revenue needed to complete these critical projects should come from those using our roads, not those who saved for retirement. 
        
“Stealing from trust funds, like traditional pension plans, to pay for spending
elsewhere is just wrong. Once you’ve stolen it, you still have to find a way to
replace it. Sooner or later, the bill will come due and America cannot
afford a large bailout.” 

The highway bill passed the Senate by a vote of 74-22.