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June 29, 2012

Congress to tackle transportation measure Friday

Congress' last major business before its Fourth of July recess is passing its transportation bill, and votes are scheduled for later Friday.

The $120 billion measure, which reauthorizes surface transportation programs for 27 months, was the result of lengthy bipartisan negotiations. Neither side is fully satisfied; many wanted a longer-term program, while others questioned the revenue source.

The 18.4 cents per gallon tax on gasoline, and 24.4 cents a gallon surchage on diesel, will continue through fiscal 2016. Transportation programs like highways and rail would be funded at present levels through late 2014.

 

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