Highway Funding Should Last Until June 2016

According to the Department of Transportation, the federal government is projected to run out of money for infrastructure projects in June 2016, which is six months longer than previously expected.

Transportation officials believe they will be able to make the recently passed $8 billion extension stretch until the end of the third quarter of the 2016 fiscal year because the pace of U.S. construction typically slows down in the winter.

However, the DOT is still urging Congress to pass a long-term solution by October 29.

(more on the latest projections for federal highway funding...)