U.S. House Passes $79 Billion Funding Plan for Railways, Highway, Transit
U.S. funding for transportation projects such as Amtrak passenger rail, highway building and transit would rise almost 5 percent to $79.4 billion next year as part of a spending plan passed today by the U.S. House.
Highway construction funds would increase 10 percent to $45.2 billion in the fiscal year that begins Oct. 1 from $41.1 billion, under the legislation approved 251-167.
The Amtrak rail subsidy would jump 13 percent to $1.77 billion, and transit aid would increase 5 percent to $11.3 billion. The Federal Aviation Administration budget would climb 6 percent to $16.5 billion.
The bill “will put people in America back to work,” said Representative Carolyn Kilpatrick, a Michigan Democrat, before the vote. “Our crumbling roads and bridges can be fixed.”
An increase in spending, if passed by the Senate, would boost companies such as equipment maker Caterpillar Inc., gravel supplier Vulcan Materials Co., railcar-manufacturer Bombardier Inc. and locomotive producer General Electric Co.
The full Senate hasn’t acted on its transportation spending plan. Differences between the bills would have to be resolved before being sent to President Barack Obama for his signature.
High-speed rail, an Obama priority, would get $1.4 billion, less than the $2.5 billion spent last year and more than the $1 billion the president sought.
Funding for the National Highway Traffic Safety Administration, which has faced questions from lawmakers over its handling of Toyota Motor Corp. recalls, would increase 3 percent to $883 million, a larger boost than Obama sought.
The FAA’s operating budget would rise 4.7 percent to $9.79 billion. The increase covers costs for a new air-traffic controller contract that began Oct. 1, giving employees 3 percent annual raises over three years. FAA spending on equipment would increase 2.2 percent to $3 billion.
The bill is H.R. 5850.
To contact the reporter on this story: John Hughes in Washington at Jhughes5@bloomberg.net;
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