The Obama administration has approved new, tougher fuel-economy standards for cars and light trucks that Transportation Secretary Ray LaHood said will save motorists more than $1.7 trillion in fuel costs and trim U.S. fuel consumption by 12 billion barrels by 2025.
But construction industry officials worry that the projected fuel saving from the new Corporate Average Fuel Economy (CAFE) standards also will translate to a deep cut in projected gasoline and diesel tax revenue flowing to the Highway Trust Fund. The fund has been the prime federal financing source for highway construction since the 1950s.