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  A Nationally-Recognized Resource in Infrastructure Financing July 26, 2011  
 

Inside Transportation

 

From Capital Partnerships LLC

 

WAITING GAME CONTINUES FOR SURFACE TRANSPORTATION BILL

 

In recent months, the House of Representatives Transportation and Infrastructure Committee have discussed a six-year surface transportation reauthorization bill. Though the Committee proposed measures to reform and consolidate federal transportation programs earlier this July, no bill has yet been put forth and the window of opportunity to do so before the August recess, beginning on the 8th, is rapidly closing. Moreover, there is no time scheduled before August 8 for a hearing or markup of the bill.

This inaction can also be seen in the Senate, where the Environment and Public Works Committee has been discussing a shorter, two-year transportation reauthorization bill, yet has drafted no formal legislation. This bill would maintain current funding levels plus inflation, but requires a $12 billion influx of money to support the Highway Trust Fund. Both chambers of Congress need to mark up their bills, debate them and send an approved bill to President Obama before the September 30 deadline when the current surface transportation bill expires.

While a long-term—either a two or six year—surface transportation bill would provide stability and security for transportation and infrastructure projects, another short-term reauthorization would at least ensure that current state transportation projects will continue to receive necessary funds. However, in light of the recent Congressional failure to extend the FAA reauthorization bill, as reported in our last Inside Transportation newsletter, even a short-term extension of the sort that has been granted numerous times in the past is not guaranteed.

     
 
 

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