This one seemed to fly under the radar without much fanfare. Looks like it passed with a wide majority, and compromises.
The funding part seems suspicious to me, increase Pension Guarantee premiums to partly finance this bill? Isn't that double counting the money?
It also seems like another kick the can with the Transportation bill for 2 years. The gas tax does not cover the full cost, and more money is transferred from the general fund. Business as usual.
Otherwise, it doesn't sound too bad, and it keeps the Road projects going.
Congress gave final approval Friday to legislation that combines a two-year transportation measure with bills to extend subsidized student loans and revamp federal flood insurance, wrapping up a bruising session with measures that will be popular on the campaign trail.
The transportation legislation extends federal highway, rail and transit programs for 27 months, authorizing $120 billion in spending, financed by the existing 18.4 cents-a-gallon gasoline tax and the 24.4 cents-a-gallon diesel tax, as well as about $19 billion in transfers from the Treasury
Here is some more on the Pension budget gimmick. I know nobody cares, but I am so sick of these budget gimmicks, 10 years of fees funding 2 years of spending, and double counting of money raised. Is anyone paying attention? Hello McFly........
Another provision of the bill would raise the annual premiums that companies pay to the federal program that takes over failing pension plans when companies go bankrupt. Over the next 10 years, that will let lawmakers count another $9.5 billion toward the cost of highway improvements and low-cost student loans. Although the premiums are in fact supposed to finance the operations of the Pension Benefit Guaranty Corporation, the Congressional Budget Office counts them as general revenue for budgeting purposes.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
