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Highway funding falls short by $20B, officials say

The sharp decline in revenue from gasoline taxes has led to a severe shortfall in funds needed for road construction projects, officials say. The Highway Trust Fund will run out of money in September, and the U.S. will need up to $20 billion through early 2011 to pay for road projects. Transportation Secretary Ray LaHood has suggested an 18-month extension and thinks eventually private investment and user fees could fund construction. Reuters (06/25)