Congress Passes Highway Trust Fund Extension
Yesterday, the Senate conceded and passed the House version of the Highway Trust Fund bailout legislation. The bill provides $11 billion in funding for the Highway Trust Fund through the end of May, 2015. The Senate waited until the last possible moment to pass the bill, with DOT slated to begin delaying repayment to the States on August 1. The bill runs through May of next year, likely pushing consideration of a highway bill into next year as well. Senate Democrats attempted to force the issue during the lame duck session by passing a shortened version of the extension, running through mid-December, but the House rejected the Senate proposal and, with time running out before the August recess, the Senate was forced to accept the House version.