With just two work days left before the federal transportation funding source dips into the red, Congress is moving toward a high-stakes showdown over how to close the gap.
Yesterday the Senate passed a bill to transfer $8 billion from the general fund to the Highway Trust Fund, which would keep things running until December 19 — meaning the next deal would be struck before a new Congress is seated. The House, meanwhile, has a different idea — using unpopular budget gimmicks to extend transportation funding until May 31, when both houses of Congress may be controlled by the GOP.
Stephen Lee Davis at Transportation for America says the Senate bill is an improvement in a few ways:
Late Tuesday evening, the Senate modified and approved a measure transferring about $8 billion from the general fund to keep the Highway Trust Fund solvent until the end of the year. But because two amendments were made, it’ll return to the House for further action before any final deal can be approved on postponing insolvency of the nation’s transportation program. The House will have to act fast: the long August recess is scheduled to begin in just three days.
Conventional wisdom had held that the Senate would adopt the House-passed bill as-is so they could finish up well before recess begins later this week. However, a strong bipartisan group supported amendments to eliminate the most controversial accounting gimmick and cut the length of the patch in half to keep the pressure on to find a long-term fix as soon as possible.