It's Make Or Break For Infrastructure Money As Transportation Bill Deadline Looms
By Jeremy B. White
June 27, 2012 12:25 PM EDT
Congress is running out of time to pass a transportation bill. If lawmakers cannot forge an agreement, they will need to fund projects on the nation's roads and bridges with a stopgap measure.
Congress last passed a surface transportation bill in 2005, and since that bill expired in 2009 lawmakers have enacted nine straight short-term extensions. They now have until June 30th to avert a scenario in which construction projects come to a halt as money for them dries up -- something neither party wants to happen.
Senate Majority Leader Harry Reid, Democrat of Nevada, upped the pressure on Tuesday, saying a deal needed to happen on Wednesday in order to leave enough time to get the bill to President Obama before the current pot of funding evaporates.
"We have to have an agreement by tomorrow," Reid said on Tuesday. "Otherwise, we can't get the bill done."