Congress is poised to extend the Highway Trust Fund for two more months. This Band-Aid is needed because the fund’s authorization expires at the end of May, and lawmakers haven't been able to agree to a more durable strategy to pay for America's roads. In China, where I am at the moment, things are different. Despite this country's much lower per capita income, Chinese drivers pay noticeably more in fees per mile than American drivers do. The higher fees encourage people to use high-speed rail and other alternatives for getting around. And the money finances new and more efficient investments in highways.

1. PETER ORSZAG @porszag

19. Bloomberg View