Sept. 24 (Bloomberg) -- Missouri wants to widen Interstate 70 between St. Louis and Kansas City to get traffic, and jobs, moving again. Construction-equipment makers Caterpillar Inc. and Deere & Co. stand ready to help. All are being stymied by a legislative deadlock that has stalled projects in Missouri and throughout the U.S. With revenue from fuel taxes declining, lawmakers are arguing over how to renew a six-year, $286.5 billion spending law that expires in six days.
Delays in authorizing the so-called highway trust fund mean states don’t know how much money they’ll get. Missouri, which added at least 8,123 jobs from roadwork funded by the economic stimulus package, may see those gains evaporate unless lawmakers can hammer out a new law.
“We have to know we have a dependable stream of money coming our way,” said Missouri Department of Transportation Director Pete Rahn, who needs $3.5 billion for the Interstate 70 project.
The House of Representatives yesterday voted to extend the spending measure for as long as three months. The measure still has to be approved by the Senate.
At least $41 billion a year, the amount under the expiring law for roads and bridges only, is at risk, said Janet Kavinoky, U.S. Chamber of Commerce transportation infrastructure director.
Fuel-saving vehicles and declines in driving have led to a drop in fuel-tax revenue, which finances all of the highway trust fund. Momentum for increasing highway and transit spending in a new bill, possibly by raising fuel taxes, slowed as the unemployment rate rose last year, Rahn said.
Draining Highway Funds
Transportation Secretary Ray LaHood said in June that states were likely to exhaust the fund before a bill passed, and asked lawmakers for an 18-month extension of the current law. The administration would otherwise have to ask for the extension when states were already running out of money, LaHood said.
The Senate Environment and Public Works Committee voted in July to grant the 18-month extension. House Transportation and Infrastructure Chairman James Oberstar said the U.S. should instead boost spending on highways and transit by more than half to $450 billion over the next six years.
Oberstar, a Minnesota Democrat, hasn’t said where the money would come from. Oberstar didn’t respond to a request to spokesman Jim Berard for comment.
Companies and industry groups lobbying for the legislation spent more than $45 million in the first half o
Sept. 24 (Bloomberg) -- Missouri wants to widen Interstate 70 between St. Louis and Kansas City to get traffic, and jobs, moving again. Construction-equipment makers Caterpillar Inc. and Deere & Co. stand ready to help.
All are being stymied by a legislative deadlock that has stalled projects in Missouri and throughout the U.S. With revenue from fuel taxes declining, lawmakers are arguing over how to renew a six-year, $286.5 billion spending law that expires in six days.
Delays in authorizing the so-called highway trust fund mean states don’t know how much money they’ll get. Missouri, which added at least 8,123 jobs from roadwork funded by the economic stimulus package, may see those gains evaporate unless lawmakers can hammer out a new law.
“We have to know we have a dependable stream of money coming our way,” said Missouri Department of Transportation Director Pete Rahn, who needs $3.5 billion for the Interstate 70 project.
The House of Representatives yesterday voted to extend the spending measure for as long as three months. The measure still has to be approved by the Senate.
At least $41 billion a year, the amount under the expiring law for roads and bridges only, is at risk, said Janet Kavinoky, U.S. Chamber of Commerce transportation infrastructure director.
Fuel-saving vehicles and declines in driving have led to a drop in fuel-tax revenue, which finances all of the highway trust fund. Momentum for increasing highway and transit spending in a new bill, possibly by raising fuel taxes, slowed as the unemployment rate rose last year, Rahn said.
Draining Highway Funds
Transportation Secretary Ray LaHood said in June that states were likely to exhaust the fund before a bill passed, and asked lawmakers for an 18-month extension of the current law. The administration would otherwise have to ask for the extension when states were already running out of money, LaHood said.
The Senate Environment and Public Works Committee voted in July to grant the 18-month extension. House Transportation and Infrastructure Chairman James Oberstar said the U.S. should instead boost spending on highways and transit by more than half to $450 billion over the next six years.
Oberstar, a Minnesota Democrat, hasn’t said where the money would come from. Oberstar didn’t respond to a request to spokesman Jim Berard for comment.
Companies and industry groups lobbying for the legislation spent more than $45 million in the first half of this year, about the same amount that was spent on climate-change lobbying, according to the Center for Responsive Politics, a Washington- based government watchdog group.
Push for Extension
Caterpillar, the world’s largest maker of construction equipment, has spent at least $1.2 million on lobbying this year, and Moline, Illinois-based Deere & Co. spent at least $1 million, the Center said.
f this year, about the same amount that was spent on climate-change lobbying, according to the Center for Responsive Politics, a Washington- based government watchdog group.
Push for Extension
Caterpillar, the world’s largest maker of construction equipment, has spent at least $1.2 million on lobbying this year, and Moline, Illinois-based Deere & Co. spent at least $1 million, the Center said.
