Congress continues discussions on how to fund the Highway Trust Fund (HTF), although there hasn’t been any major action this week. The Senate is expected to vote on legislation next week that will provide $10.8 billion in funding for the HTF through May 31, 2015. The House passed similar legislation last week. Senate Majority Leader Harry Reid (D-Nevada) is expected to push for three votes: one on the House-passed HTF bill, a second on the Senate Finance Committee bill (which is similar to the House proposal), and a third on Senator Boxer’s transportation spending bill that would extend the policy and spending programs through December 31, 2014.
While the Senate has various options up for consideration, which could cause some hiccups in the legislative process, we anticipate that the House and Senate will likely agree to a final bill prior to adjourning late next week for the August recess. Without Congressional action to provide the trust fund with some level of relief, the fund is anticipated to run dry sometime this summer.