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Monday: Increasing clouds through the day.
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The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Obama Administration Proposal Could Allow for Tolls on Area Interstates

WASHINGTON (AP) -- A four-year, $302 billion transportation plan recently proposed by the Obama administration could pave the wave for tolls booths on area interstates.

The administration plan would let states toll interstates to pay for repair or replacement of the highways. Many interstates, built to last 50 years, are past their life expectancy and in need of more substantial repairs than simple repaving. States would also be allowed to introduce "variable tolling, tolls that change according to the time of day or traffic conditions. The tolls are designed to encourage more drivers to carpool or use public transit in an effort to relieve congestion.

Action is urgently needed because the federal Highway Trust Fund is expected to run dry by late August, said Transportation Secretary Anthony Foxx. Unless Congress acts to shore up the fund, transportation aid to states will be held up and workers laid off at construction sites across the country, he said.

The administration's plan includes pumping about $150 billion into transportation programs beyond the money raised from fuel taxes. The extra spending would be paid for by changes to business taxes, including a proposal to close corporate loopholes, such as ones that encourage U.S. companies to invest overseas.

"The only way we're going to fix this is if everyone puts their ideas on the table and has an honest discussion on how to find common ground," Foxx told reporters.

 
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Business News

Business and economic reports scheduled this week

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