Highway Funding Restoration Act

Highway Funding Restoration Act - Amends the Transportation Equity Act for the 21st Century (TEA) to set the obligation limit for Federal-aid highway and highway safety construction programs for FY 2003 at $28.9 billion, to be distributed in accordance with that Act.

(Sec. 3) Deems adjustments made pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 (Balanced Budget Act) (to align highway spending with revenues) and TEA to the highway category to be zero. Makes this section immediately applicable to reports issued pursuant to the Balanced Budget Act for FY 2003, including the discretionary sequestration preview report.

(Sec. 4) Increases the discretionary spending limit under the Balanced Budget Act and obligations limitations under TEA for the highway category.

(Sec. 5) Expresses the sense of Congress that the revenue aligned budget authority provision of the Balanced Budget Act should be amended to more accurately align highway spending with highway revenues while maintaining predictability and stability in highway funding levels.

(Sec. 6) Expresses the sense of the Senate that the funds made available by this Act shall be distributed among the States in accordance with TEA.