On May 23, 2015, Congress approved the Highway and Transportation Funding Act of 2015, and extended through July 31, 2015 funding for the Highway Trust Fund (HTF), which is used to finance certain road and transit projects. President Obama is expected to sign the stop gap measure, by May 31, 2015, when funding for the HTF is set to expire. While the measure prevents a suspension of infrastructure projects and avoids lengthy and acrimonious debates on long-term infrastructure financing, it does not provide a long term solution to the country's infrastructure financing problems. By passing the two-month deal, Congress did not have to come up with any additional funding for the HTF.

Previously, President Obama signed the Highway and Transportation Funding Act of 2014, which prevented the insolvency of the HTF and financed federal highway and other transportation projects through May 31, 2015. (For more information on the previous measure and its provisions, see Legal Update, Congress Passes Bill to Temporarily Fund the Highway Trust Fund.)

Many are questioning the wisdom of these temporary measures. In a Statement of Administration Policy, the White House stated that, while it does not oppose passage of the measure, short-term measures like this one undermine "the ability of States and localities to keep Americans at work building and repairing the Nation's roads, bridges, and transit systems." This sentiment is shared by various market observers and participants. The American Association of State Highway and Transportation Officials (AASHTA) has expressed dissatisfaction with Congress's repeated reliance on short-term funding extensions. Bud Wright, the executive director of the AASHTA, argued that the two-month extension reflects Congress's inability to fund a long-term surface transportation bill, and that this has led to uncertainty among the organization's members.