Federal transportation funding stuck in neutral.
The Senate Environment and Public Works Committee approved a $265 billion 6-year transportation bill that reauthorizes MAP-21. The funding level amount to status quo plus inflation and still leaves a gap of $100 million between the highway trust fund revenues and the proposed spending levels. The Senate Finance Committee will be charged with identifying how to pay for the difference. President Obama’s proposed $302 billion 6 year transportation bill would be funded through unidentified tax reform. Without long term adjustments to the highway trust fund revenues, federal transportation funding will continue to limp along subject to the annual appropriations process.