Extension … Senate Bill … Conference Committee … Shutdown … Here are a few articles summarizing the significant of today. With the House scheduled to leave Washington DC tonight, it is T Day. Looks like an extension in our crystal ball. The April 1st deadline looms. Stay tuned!
Road bill gridlock worries states
“The Highway Trust Fund — the place where federal gas taxes are deposited — will start incurring losses to the tune of $110 million each day the law is lapsed. That means states won’t be reimbursed for projects already under way, putting them in the uncomfortable position of trying to decide how long they can float the money before they have to shutter projects midstream. The uncertainty created will also mean states just won’t start new projects already planned.”
Click here for complete article > Politico
March 28, 2012
The doomsday clock is ticking down on a Sunday expiration of surface transportation programs, and there’s nowhere those bells are tolling as loudly as back home in lawmakers’ districts.
State transportation departments are already preparing for the worst: North Carolina has tallied up about $1.2 billion worth of infrastructure projects at stake, West Virginia is preparing to idle projects and nationally many paychecks and jobs are on the line.
If Congress can’t come together on an extension by April 1, the federal government’s ability to collect and spend most of the federal gasoline tax money that fuels the nation’s transportation system will come to a screeching halt…
House Nears Vote on Highway Bill to Avert Halt to Road Projects
“Congress’s struggles to agree on a multi-year bill have drawn out so long that the Highway Trust Fund is almost insolvent. Its highway account may be unable to meet its obligations as soon as October, the American Association of State Highway and Transportation Officials said Jan. 31 in a report analyzing Congressional Budget Office data.”
Click here for complete article > Bloomberg
March 29, 2012
The U.S. House of Representatives will vote today on a bill to extend highway programs through June 30 that if passed would avert a shutdown of construction projects and the furlough of 3,500 federal government workers.
The House Rules Committee approved a resolution yesterday calling for today’s vote in the Republican-led chamber. The panel blocked a push by Democrats for a separate vote on a two- year, $109 billion highway-spending plan passed by the Senate.
Road projects in every U.S. state would be affected if Congress fails to act by March 31. The U.S. would be forced to stop collecting all but 4.3 cents of the 18.4 cents-per-gallon federal tax on gasoline, putting further strain on the Highway Trust Fund, which pays for highway and transit projects…