Obama signs $10.8 billion highway funding bill - WRCBtv.com | Chattanooga News, Weather & Sports

Obama signs $10.8 billion highway funding bill

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Eastbound Interstate 24 traffic passes under the directional sign for I-75, north and south, less than one mile from Chattanooga's only Interstate interchange. Photo by Tim Barber/Times Free Press Eastbound Interstate 24 traffic passes under the directional sign for I-75, north and south, less than one mile from Chattanooga's only Interstate interchange. Photo by Tim Barber/Times Free Press
WASHINGTON (AP) - President Barack Obama has signed into law $10.8 billion in temporary funding for highway and transit construction.
    
The bill the White House says Obama signed Friday will keep the Highway Trust Fund solvent through May, when lawmakers will again be challenged to come up with longer-term funding.
    
The trust fund is the primary source of federal aid to states for surface transportation projects. Its money comes from the taxes paid on gasoline and diesel fuel. But revenue hasn't been keeping up with demand because people are driving less and vehicles are more burning less fuel.
    
Administration officials had said the fund would run out of money later this month unless Congress acted.

Obama has been urging Congress to pass his four-year $302 billion transportation plan instead.                                                      Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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