Dive Brief:
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Two high-ranking members of Congress introduced a measure that would funnel $8.1 billion into the federal fund that pays for highway and transit programs. The House bill is on today's schedule.
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The infusion of cash would keep the fund running through Dec. 18. Without the extension, it will expire on July 31 and run out of money in late August.
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The bill’s sponsors, Republican Reps. Bill Shuster of Pennsylvania and Paul Ryan of Wisconsin, said they will introduce another bill later this year to create a longer-term solution to transportation funding.
Dive Insight:
The stopgap measure would provide the latest infusion of temporary funding into the federal Highway Trust Fund, which is designed to replenish with revenue from the 18.4-cents-per-gallon gasoline tax. Because cars are more fuel efficient and drivers are buying less gas, that revenue stream has, for many years, been insufficient to keep the fund up and running on its own.
Ryan and Shuster, in a joint statement, said: "This country needs a long-term plan to fix our roads, bridges and other infrastructure and this bill gives us our best shot at completing one this year."
They said the proposal they will introduce later will keep the fund solvent for up to six years.
