Highway Fund Good Until Next June?
Writing on The Hill, Keith Lang reports that the Federal DOT updated its Highway Trust Fund ticker, adding six months to its run-out-of-money timeline. Funding for infrastructure projects is now expected to dry up in June, 2016.
Congress passed an $8 billion extension in July to cover payments to states for transportation projects. Originally, the extension was expected to cover funding until this December. Transporation officials said they would stretch further, though, because U.S. construction greatly slows in the winter.
Congress will still need to pass by October 29 an extension of the federal policy that authorizes the transportation spending.
If spending is covered up until next June, it might give lawmakers "cover to pass another temporary extension . . . instead of finishing work on a multiyear transportation bill, which has been sought by infrastructure advocates for years," Lang notes.
Find his article here.
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
