Wednesday, July 29, 2009

Highway Trust Fund Fix Bumped to $7 Billion

At the request of Senate leadership and the Obama administration, the temporary fix to tide the Highway Trust Fund over the five week Congressional recess has bumped from $5 billion up to $7 billion with the concurrence of House Majority Leader Steny Hoyer and Transportation and Infrastructure Chairman James Oberstar. The House passed the bill this evening and the Senate may act tonight or early tomorrow.

Meanwhile across the Potomac in Virginia, the sort of problems to come, should Oberstar's wish for a long term reauthorization measure before the current law expires September 30 not be granted, are being dramatically illustrated. Virginia's Department of Transportation has closed 18 highway rest stops and cancelled 1,400 road construction and repair projects, making $2 billion in budget cuts. Last Monday VDOT also laid off 600 employees. The urgency of the situation for the construction industry could not be more apparent!
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