Transportation Reauthorization Bill Coming in July

The Senate Environment and Public Works Committee is set to introduce a $97 billion, two-year transportation bill after the July 4 recess. The bill will add another $12 billion to the deficit.

"The bill has strong bipartisan support from the committee's "Big Four": Chairman Barbara Boxer, D-Calif., Sen. James Inhofe, R-Okla., the ranking member, Sen. Max Baucus, D-Mont., and Sen. David Vitter, R-La., the chairman and ranking member of the highway subcommittee."

From D.C. Streetsblog: Expect Two (Radically Different) Reauthorization Proposals Soon:
"It costs $12 billion more than the Highway Trust Fund will bring in, meaning the Finance Committee will need to find a way to pay for that overage. (According to the CBO, the trust fund is projected to bring in $85.5 billion in 2012 and 2013, so that would mean a $97 billion bill.)"

Sen. Baucus will be tasked with finding the $12 billion that is unfunded in the EPW bill.

The Senate bill would have to be reconciled with the expected six-year House Transportation Committee bill under the leadership of John Mica, R-Flo.

Thanks to Streetsblog New York City

Full Story: Committee Poised to Introduce Transportation Bill

Comments

Comments

Irvin Dawid's picture
Correspondent

My Bad: it won't add to deficit if Baucus can finance it

Funny how I interpreted this $12 billion 'unaccounted for' spending with deficit spending! After so much deficit-funded ARRA money spent on transportation, it's easy to see why.

But it's clearly listed incorrectly - it need not be deficit-enlargening if Chair Baucus of the Sen. Finance Committee can find a revenue source, and is agreed upon by both Houses.....I figure the administration would just as readily accept a general fund payment.
Irvin Dawid, Palo Alto, CA

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