House Approves Short-Term Extension of Highway Trust Fund Through December 18

Posted on: July 17th, 2015 by NADO Admin

This week, the House of Representatives approved by a vote of 312 to 119 legislation to extended funding for the Highway Trust Fund through December 18.  The current extension is set to expire on July 31.  The legislation transfers $8 billion from the general fund into the Highway Trust Fund offset with a patchwork of tax compliance and revenue measures.  The extension is designed to keep the trust fund solvent for the next several months in hopes that in the interim, Congress will be able to pull together a comprehensive tax overhaul package that would provide revenue for a multi-year surface transportation reauthorization bill.  The Senate hopes to pass a longer-term extension before the July 31 deadline, but no revenue source has been publicly identified.

 

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