Tuesday, May 26, 2015

Congress Sends Highway Trust Fund Patch To Obama

            As we predicted earlier, early Saturday morning the Senate passed the House approved extension of Federal Highway Trust Fund expenditures through July 31. The fund authorization was set to expire May 31, and President Obama is expected to sign the bill on his desk, to avoid stopping work on innumerable federally funded road construction projects this summer.
            However, the Highway Trust Fund will run out of money in late July or early August. Congressional leaders do not expect any long term extension legislation until year end action by the House Ways and Means Committee on a comprehensive tax reform bill, according to House Transportation and Infrastructure Chair Bill Schuster. Congress will have to appropriate about $5 billion to keep highway projects going through September, and $10 billion to keep them funded through year end.

            American Automobile Association Vice President for Public Affairs Kathleen Bower blasted the inefficiency and high cost of the now 33 temporary surface transportation funding extensions: “It’s almost like a payday loan,” she said in a May 19 press briefing. 
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