Obama's transportation secretary just announced $4 billion for self-driving cars

The future is upon us — or, at least, accelerating its approach. U.S. Transportation Secretary Anthony Foxx is set to announce Thursday at the Detroit Auto Show a proposal to spend $4 billion over the next decade to expedite the development of self-driving cars.

The proposal, which will be part of President Obama's 2017 budget, promises to iron out existing regulatory obstacles snarling self-driving cars' development and to begin the collaborative process of outlining rules and regulations for the future. Within six months, Foxx says the patchwork status of state laws regarding automated cars will be transformed into a more cohesive set of regulations.

The National Highway Traffic Safety Administration will also exempt up to 2,500 vehicles industry-wide from select auto safety standards to open up testing for new technology, and money will be put into pilot programs setting up designated testing areas for self-driving cars around the U.S.

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"We are on the cusp of a new era in automotive technology with enormous potential to save lives, reduce greenhouse gas emissions, and transform mobility for the American people," Foxx said in a statement. "Today's actions and those we will pursue in the coming months will provide the foundation and the path forward for manufacturers, state officials, and consumers to use new technologies and achieve their full safety potential."