April 20, 2014

Transportation bill’s demise points to 2014 stalemate

The collapse of U.S. transportation funding bills in both houses of Congress points to a broader stalemate over fiscal 2014 spending and threatens to extend across-the-board budget cuts into next year.

Senate Republicans yesterday blocked a $54 billion measure funding highways, aviation, passenger rail and other transportation projects because it exceeded spending limits earlier agreed to by both parties. House Republican leaders called off this week’s vote on a more-austere $44 billion measure amid signs it lacked enough support to pass.

Read the complete story at Bloomberg Businessweek.