Highway Funding Road Kill? Hamas Rejects Truce, Israel Resumes Bombing

President Obama will speak on the economy during our first hour today. He's pushing hard for Congress to act on restoring funds to highway and infrastructure funding. The House is working on a fix, but it's unclear how much traction that's getting. The Transportation Department says the highway fund runs out of money the first week of August.

1110EDT -- POTUS tours the Turner-Fairbank Highway Research Center. McLean, VA. POOL TAPE

1135EDT -- POTUS delivers remarks on the economy. Turner-Fairbank Highway Research Center, McLean, VA. POOL LIVE

Hamas has rejected a truce with Israel. Israel had agreed to a halt to retaliation for rocket attacks on its citizens. Egypt had proposed a truce. But Hamas rejected the truce. Now Israeli Prime Minister Benjamin Netanyahu is warning Hamas it will intensify its retaliatory attacks if the rockets keep flying. David Lee Miller reporting from the Israel/Gaza border and John Huddy from Gaza City.

Wildfires raging in several Western states today. Lightning has set off blazes in Idaho, and Oregon. A fire in Oregon has already destroyed six homes and another 14 buildings. Another fire in California has destroyed eight homes and 10 other structures.

Severe weather expected today across Ohio and parts of the Mid-Atlantic and Northeast. Hot temps out west (no help for those fires!). Janice Dean reporting.

California, dealing with severe drought, is considering big fines on water wasters. The state votes tonight on fines of up to $500 a day for those found wasting water housing down sidewalks, washing cars, or over watering. We've got Will Carr reporting on some of the lengths farmers are going to to deal with the drought.. digging wells.

A subway derailed in Moscow killing at least 10 people and injuring another 100.

A homicide car bomber killed at least 38 people and wounded another 40 in Afghanistan. They were all civilians.

A typhoon is headed for the Philippines.

More new research out today on Alzheimer's. We go in depth. New studies show the rate of Alzheimer's Disease are falling, but the number of cases continues to rise as the population lives longer.

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-Clint Henderson

Clint Henderson is the Executive Producer for “Happening Now” and an avid traveler. Follow his adventures on Twitter, ClintPHenderson, and Instagram, clintpage1.