With money running out, House Republicans working to extend highway funding to end of year

Industrials Associated Press

Congressman Paul Ryan says House Republicans are working on a package to extend highway funding through the end of the year.

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The federal government is scheduled to run out of money to repair the nation's roads and bridges at the end of July, at the height of construction season.

Ryan told reporters Friday that the package would cost $8 billion. He says it would be paid for with provisions that both Republicans and Democrats could support, though he declined to identify them.

Ryan says the five-month extension would give Congress time to work on a longer-term package. He says ultimately the goal for House Republicans is a 6-year package paid for with revenue from overhauling the taxes U.S. businesses pay on profits generated in other countries.