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Monday
May122014

Money to Repair US Roads, Bridges Running Out

iStock/Thinkstock(WASHINGTON) -- Summer usually means road construction across the U.S., but this year, more potholes may be left unfilled.

The fund that pays for nearly a quarter of all highway and mass transit construction is about to run dry.

"As soon as August, the Highway Trust Fund, the account that pays for building our nation's roads, will start bouncing checks. Unless Congress acts, up to 700,000 Americans will lose their jobs over the next year," Transportation Secretary Anthony Foxx said at the White House press briefing on Monday.

Foxx has been begging Congress to strike a deal and put more money into the dwindling fund.

"This may be the most dire moment the American transportation system has faced in decades," he said.

When Americans fill up their gas tanks, 18 cents on every gallon goes to the federal bank account that pays for road work. But now that cars are getting more efficient, and repairs are costing more and more, the gas tax cannot keep up with the workload.


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