The House Transportation committee has proposed a $230 billion, six year, federal highway funding program to replace the $285 billion program that expired nearly two years ago. $230 Billion is the estimated revenue from federal fuel taxes over the period. Federal highway spending for FY 10 and FY 11 has been based on a series of extensions of the expired $285 billion program supplemented with several multi-billion supplements from general tax revenues.
President Obama will propose a four-year, $302 billion transportation program on Wednesday to repair and rebuild roads, bridges and transit systems, the White House said. The program would include funding from $150 billion in revenu... Read Post
The House and Senate veterans’ affairs committees are scheduled to hold a joint hearing on Wednesday to discuss funding for the Department of Veterans Affairs, roughly one week after President Obama proposed boosting the organizatio... Read Post
US Rep Pete DeFazio issued a statement today claiming that the solution to a funding gap in the proposed $450 billion six year highway and transit program is a tax on oil futures trades. DeFazio proposes a 0.02% tax on every oil fut... Read Post