Highway Trust Fund Strategies Still Divergent

Despite loss of all hope for a long term federal highway trust fund reauthorization bill before Congress takes off for the month of August, the House and Senate are still at odds about how to deal with the likely insolvency of the fund during the month long Congressional recess. House Transportation and Infrastructure Chairman James Oberstar and Highways and Transit Subcommittee Chairman Peter DeFazio want a $3 billion cash infusion to tide the fund over the recess, and force a vote on a six year reauthorization before the fiscal year ends September 30, while Transportation Secretary Ray LaHood, along with Senate Finance Chairman Max Baucus and the Senate Committees on Banking, Commerce and Environment and Public Works are pushing for a $27 billion, 18 month extension to push needed tax increases into the net election cycle.