House Republicans Propose Short-Term Fix for Highway Fund; Vote Likely July 15
House Republican leaders on July 13 introduced legislation that would authorize $8 billion in funding for highways through mid-December.
The House is expected to consider the measure July 15 after parameters for debate were approved by the House Rules Committee on July 14. Members will not be allowed to offer proposals that would amend the bill when the bill is on the floor.
The bill would be backed by $5 billion from certain tax proposals regarding compliance, and about $3 billion would come through spending reductions, according to background provided by the House Ways and Means Committee.
The Ways and Means panel has jurisdiction over the Highway Trust Fund, for which authorization expires July 31. The account is used to help states finance major road and bridge projects as well as transit systems.
"This country needs a long-term plan to fix our roads, bridges and other infrastructure, and this bill gives us our best shot at completing one this year. By providing resources through the end of the year, we can ensure construction continues while we work toward a package that could close the trust fund’s shortfall for as many as six years. We urge all members who want some long-sought stability in our highway and transit programs to support this critical extension," Republican Reps. Paul Ryan of Wisconsin and Bill Shuster of Pennsylvania said in a joint statement.
Ryan is chairman of Ways and Means, and Shuster is chairman of the House Transportation and Infrastructure Committee.
Specifically, the Ways and Means backgrounder noted that funding for the measure would be generated by requiring lenders to report more information on outstanding mortgages.
The legislation also would seek to clarify the statute of limitations on reassessing certain tax returns. It would require estates to report the value of property upon the owner’s death. The measure would look to adjust tax-filing deadlines for businesses.
The bill also would allow employers to transfer excess defined-benefit-plan assets to retiree medical accounts and group-term life insurance. The measure would equalize taxes on natural-gas fuels. It also would extend current budget treatment of Transportation Security Administration fees as mandatory savings until 2026. Current law treats the fees as savings until 2024.
At the Rules hearing, Ways and Means ranking Democrat Rep. Sandy Levin of Michigan called on lawmakers to collaborate on a bipartisan long-term highway bill. He added, "We’ve been working on a possibility of a first-step towards a long-term solution, and we’ll see whether we bring it forth before it comes to the floor."
On the other side of the Capitol, Senate Republicans on the Commerce Committee are scheduled to mark up a six-year highway bill July 15. That measure is designed to complement a six-year surface transportation policy measure that the Senate Environment and Public Works Committee passed last month.
While Senate transportation authorizers say they are determined to send the House a long-term highway bill, Senate Majority Leader Mitch McConnell (R-Ky.) has signaled the chamber would consider some kind of transportation fix before the end of the month. Meanwhile, key Democrats have expressed their opposition to a short-term highway measure.
