Senate Committee Approves U.S. Highway Bill Without Needed Funds

A U.S. Senate committee sent a highway-funding bill to the full chamber after backing away from proposals to increase gasoline taxes and force early distributions on some individual retirement accounts.

The Democratic-controlled Senate’s finance committee yesterday approved the legislation, 17-6. Chairman Max Baucus, a Montana Democrat, said he will look for additional money, without providing details. The Senate public works committee previously approved a two-year, $109 billion spending plan.