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Senate Okays 2-Month Extension of Highway Funding
The U.S.
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The U.S. Senate agreed on Saturday to extend the country's highway funding programs through July. But Congress hasn't decided what to do after the extension expires.
The Highway Trust Fund, which funds road construction and public transit projects, is funded primarily by fuel taxes that haven't changed in 22 years. Most of those taxes are scheduled to expire at the end of September 2016.
The fund has been collecting about $40 billion in revenue per year but spending closer to $52 billion. Republicans don't want to raise taxes, and Democrats don't want to cut spending. The fund, which is required to finish funding projects it starts, expects a $13 billion deficit this year.
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