Congress reaches compromise on Five-Year Highway Bill
AIM and the Missouri Transportation Development Council are pleased to hear about this compromise, and hope Congress can see it through to the end. MoDOT needs certainty in federal funding so it can move forward with the projects that fit its budget.
AIM is also glad to see the renewal of the Export-Import Bank. This is an important tool that helps businesses large and small in Missouri conduct business overseas on a level playing field.
From the Wall Street Journal
Congressional negotiators struck a compromise on a $305 billion measure to fund highways and mass-transit projects for five years, the longest in almost two decades and an unexpected show of agreement after years of clamoring by state transportation programs for money for infrastructure projects.
The measure, unveiled on Tuesday, would also renew the Export-Import Bank through September 2019 and set traffic-safety priorities.
House Speaker Paul Ryan (R., Wis.) said Tuesday that the chamber would take up the bill this week, acting before the current authority for the Highway Trust Fund expires on Friday. The Senate is expected to act shortly after, with leaders readying a short-term bill in case of difficulties meeting the Friday target.