COMMENTARY | It met with a resounding failure last year in a bipartisan attempt to reduce the federal debt, but House Republicans plan to unveil a trimmed-down, $260 billion transportation bill today. It's about time some thought was given to repairing roads, bridges and highways by Congress.
The massive five-year spending bill is likely to sail through the GOP-led House, Reuters reported. But opposition in the Senate will be the stumbling block. Senators are touting a two-year, bipartisan deal that might be workable in both chambers. Regardless of which plan advances, construction jobs are a sure bet.
While I opposed the federal bailouts, this type of bill should have been the main focus when it was done, as it would have made essential infrastructure repairs and provided thousands of jobs. Construction jobs have a snowballing effect on the economy and should have been the starting point in stimulating the job market.
But, that was the past.
President Barack Obama even agreed with the need to address transportation issues. "So much of America needs to be rebuilt," the president said during his State of the Union Address. "We've got crumbling roads and bridges." If Congress can gather the wherewithal to actually pass this bill in the discombobulated environment of election year politics, then there might be some good to come from it.
Funding the project will draw from the Federal Highway Trust Fund, so no new taxes are anticipated on a subject that typically draws bipartisan appeal, the Washington Post reported.
But the game changer will come if Republican leaders decide to tack the Keystone XL pipeline project inside the bill. Obama needs political cover from his environmentalist supporters this year, so he's probably not going to give on that issue.
End result: Probably little chance of passing this bill (or any other major legislation) through Congress this year. With the public's expectations so low, maybe Congress will impress us and actually accomplish something of significance. But I'm not holding my breath.
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