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White House Supports Temporary Highway Funding Bill

Discussion in 'General Politics' started by LPH, Jul 14, 2014.

  1. LPH

    LPH Flight Director Flight Instructor

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    White House Supports Temporary Highway Funding Bill


    According to the Hill, the White House will support House passage of H.R. 5021. This will clear Senate Democrats to help pass the legislation.
    “With surface transportation funding running out and hundreds of thousands of jobs at risk later this summer, the administration supports House passage of H.R. 5021,” the White House said in a statement. “This legislation would provide for continuity of funding for the Highway Trust Fund during the height of the summer construction season and keep Americans at work repairing the Nation's crumbling roads, bridges, and transit systems.”​

    The Congressional Budget Office (CBO) estimates that enacting H.R. 5021 would reduce direct spending and increase revenues.

    The bill includes an attachment to "allow single-employer defined benefit pension plans to use higher interest rates when calculating their future liabilities for the 2013-2020 plan years."

    Update: Two Republican lobbying groups came out against the passage of the bill.
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    Last edited: Jul 15, 2014

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