President Obama Warning About Transportation Funds

Created: 07/02/2014 7:35 AM

WASHINGTON (AP) - The Obama administration is warning that if Congress doesn't agree quickly on how to pay for federal highway projects, states will begin feeling the pain of cutbacks in just a few weeks.
The balance in the federal Highway Trust Fund is dropping and will soon go below $4 billion.
That's the cushion officials say is needed for incoming fuel tax revenue to cover outgoing payments to states.
By late August, the balance is forecast to reach zero.

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