Repairing Our Aging Roads Act - Authorizes the Secretary of Transportation (DOT) to issue Transportation Bonds in the aggregate of up to $2 billion to each state for transportation infrastructure projects.
Establishes in the Treasury 50 separate State Transportation Trust Funds consisting of amounts derived from the sale and issuance of Transportation Bonds to construct or improve state transportation infrastructure.
Requires an offsetting reduction, equal to the dollar amount of bonds issued, in any discretionary account in any appropriation Act.