House passes highway bill

“This bill will finally provide state and local governments with the kind of certainty they need to focus on longer-term road and bridge projects”. It now goes to the White House for President Barack Obama’s signature. “This will be the first time since the George W. Bush Administration that we will have a highway funding bill that gives us the flexibility to fund and finish our most crucial infrastructure projects without burdening hardworking American taxpayers”.

Crawford added, “Our office has been in talks with (the Arkansas Highway and Transportation Department) about adding safety features which are long overdue, especially since the road has already been operating like an interstate for around 15 years”.

Still, it’s praised by industry and public officials as a major accomplishment for ending the last-minute, short-term extensions that have kept the federal Highway Trust Fund on the edge of insolvency for much of the past eight years.

To help pay for transportation, the legislation reduces the dividend payments made by the Federal Reserve to banks with assets exceeding $10 billion.

Today, the U.S. House passed the conference report for HR 22, the FAST Act, by a vote of 359-65. The main source of revenue for transportation is the trust fund, which comes mostly from the 18.4-cent-a-gallon gasoline tax.

“The Chamber also welcomes the reauthorization of the U.S. Export-Import Bank, which has garnered overwhelming support in Congress. In recent weeks, we’ve seen how American companies are forced to operate at a unique disadvantage in global markets without Ex-Im, resulting in lost sales and lost jobs”. She introduced a provision requiring rental auto agencies to fix faulty vehicles under recall orders before renting them to the public.

U.S. Reps. Garret Graves, R-Baton Rouge, who represents portions of northern Lafourche and Terrebonne parishes, and Steve Scalise, R-Metairie, who represents southern parts of the parishes, both voted for the bill.

A five-year, $305 billion bill was passed by Congress Thursday.

“By not clarifying Congress’ intent, and the federal government’s role in governing interstate commerce, this bill opens the door for a hodgepodge of state regulations that will harm the safety and efficiency of the trucking industry”, Graves said.

Another provision of the transportation bill would lift the cap on damages in railway accidents to $295 million, from $200 million. The charter for the bank had expired this summer, even after some of the nation’s largest companies, including United Technologies and General Electric, lobbied heavily for its renewal, because of opposition from conservative Republicans who called the bank’s operations corporate welfare. Customs fees will be indexed to inflation, and the money will be used to help offset the cost of highway and transit programs.

It also improves rail travel, with millions to install positive train controls, the automatic brakes on passenger train that experts think could have prevented deadly crashes in the Bronx and outside Philadelphia.