The Federal Department of Transportation has sent a request to borrow $20 billion from the Treasury to compensate for shortfalls in the Highway Trust Fund.
The Fund is on the verge of depletion, with some estimates putting it out of money by September. The new request from DOT would enable it to fund transportation projects through early 2011.
"In a two-page document, the department proposed borrowing $20 billion from the Treasury's general fund, to be repaid over 10 years. But it did not recommend specific spending cuts or revenue raisers to offset the funding over the coming decade."
FULL STORY: Administration Seeks $20 Billion to Cover Highway Fund Shortfall
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