Bush Proposes Boost in DOT Spending for FY ’08

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President Bush’s proposed budget for fiscal year 2008 asks Congress for a 10% increase in transportation spending to $63.7 billion, Bloomberg reported Tuesday.Highway spending, the largest share of the transportation budget, would rise about 0.8% to $39.6 billion, according American Association of State Highway and Transportation Officials, Bloomberg said. The president and Congress agreed to the increase in a six-year highway spending law in 2005.Bush is proposing a change in the way money is spent from the highway trust fund, which is funded by fuel-tax revenue, Bloomberg said. Without his change, the proposed highway spending would be $842 million higher.The fiscal year begins Oct. 1.