Swedish retailer IKEA announced Tuesday it plans to build a store in Columbus near Polaris Mall.
Contractors Worried About Funding For Road Projects
As road construction season gets underway in Ohio, some in the industry are worried about the flow of money from the federal government to help pay for the projects drivers will see next year.
The federal Highway Trust Fund is going broke. Chris Runyan is president of the Ohio Contractors Association, and he says that fund is helping ODOT with this yearâ€™s $2.4 billion dollar capital program.
â€œNearly a billion of that this year is going to be contributed through federal funding,” said Runyan.
Transit groups nationwide are saying that if Congress doesnâ€™t fix the federal trust fundâ€™s financial situation by October 1, there wonâ€™t be enough money to go ahead with next yearâ€™s projects â€“ including finishing multi-year projects that have already been started.
The money for the fund comes from gasoline taxes, and itâ€™s unlikely those would be raised in an election year â€“ if at all.
The Obama administration has suggested a $300 billion plan to change corporate tax laws and close loopholes, but lawmakers could also dip into the treasury for short-term funding.