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July 11, 2014 AT 2:26 AM
The top Democratic and Republican tax writers in the U.S. Senate on Thursday announced a $10.8 billion plan to extend federal funding for transportation projects into the summer of 2015, roughly matching legislation moving through the House of Representatives. Senate Finance Committee Chairman Ron Wyden and Senator Orrin Hatch, the panel's ranking Republican, said their proposed bill would keep the Highway Trust Fund from becoming insolvent next month while they negotiate longer-term transportation funding.