The Senate Environment & Public Works Committee is set to introduce a $97 billion, two-year transportation bill after the July 4 recess that will have a deficit of $12 billion. The House is said to be working on a six-year bill.
"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.)"
Key to the Boxer bill is the fact that Sen. Baucus chair's the Senate Finance Committee that 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- FL.)
Thanks to Streetsblog New York City
FULL STORY: Committee Poised to Introduce Transportation Bill
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.
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