Rules Committee Paves Way For Trust Fund Bill On House Floor

The House Rules Committee adopted a closed rule process on July 14 for a bill that would fund a cash-strapped Highway Trust Fund through May.

Floor debate on the bill, sponsored by Rep. Dave Camp (R-Mich.)  is scheduled for July 15. Under a closed rule members are not allowed to offer amendments on the floor seeking to make changes to the bill.

Before agreeing on the rule by a voice vote, the Republican-led committee did not make in order an amendment offered by Rep. Earl Blumenauer, an Oregon Democrat, that would have directed Congress to approve a long-term transportation funding bill this year.

Blumenauer argued before the committee that short-term funding bills do little to help the country’s transportation future, and he pledged to travel from “Portland, Maine to Portland, Oregon” to remind people about the role the federal government plays in funding road projects.

The House bill would approve the transfer of $1 billion from the Leaking Underground Storage Tank Trust Fund to keep the highway account solvent. It also would extend customs fees until 2024, and it would rely on the accounting practice known as pension smoothing. The accounting practice allows companies with defined benefit retirement plans to assume higher interest rates when calculating the amount of money needed to contribute for employees’ retirements.

The Senate is expected to consider similar legislation this week.

The federal Highway Trust Fund’s account is a few weeks from running out of money, according to the Department of Transportation. Lawmakers have to approve a patch before leaving for their August recess if they plan to prevent DOT officials from slowing down payments to states for transportation projects.