WASHINGTON (May 12, 2014) The Obama administration was warning Congress Monday that a key federal government fund that’s used to pay for the nation's roads, bridges and ports is running dry and that the economy would be damaged if it is not replenished.
A White House economic analysis concluded that without congressional action, more than 112,000 ongoing projects would be in danger of falling idle, affecting nearly 700,000 jobs.
Transportation Secretary Anthony Foxx said such project delays would slow commerce, hinder commuters and hurt businesses.
The administration says the Highway Trust Fund, which is financed by gasoline taxes, could run out of money by the end of summer.
On Wednesday, President Barack Obama plans to speak by the Hudson River's Tappan Zee Bridge just north of New York City to press his case.