U.S. DOT Says Highway Funding Will Last Until June 2016

September 10, 2015

The U.S. Department of Transportation said that an $8 billion extension to the Highway Trust Fund will pay for state infrastructure projects until June 2016, reports The Hill.

The extension was expected to last until December 2015, when it was approved, but transportation officials are now saying they can stretch funding until the end of the third quarter of the 2016 fiscal year since construction typically slows down considerably in the winter months.
“Although sufficient balances exist in the Highway Trust Fund to maintain solvency through the third quarter of FY 2016, an October 29th lapse in authorization prevents new obligations in Highway and Transit programs and impacts reimbursements to states," the U.S. DOT said in a statement.