House Passes Legislation to Fund Highways for 27 Months

The U.S. House of Representatives today approved a bill that will keep money flowing for highway and mass transit projects for the next 27 months. Lawmakers acted a day before the programs were due to expire.

The legislation, passed on a 373-52 vote, overhauls how projects undergo review for their effect on the environment. It will consolidate the number of programs dedicated to specific policy priorities and give states more flexibility to skip federal mandates on bicycle paths and pedestrian walkways.

Besides transportation-related programs, the legislation extends for a year current student-loan interest rates, which had been scheduled to double to 6.8 percent on July 1. The measure also reauthorizes the National Flood Insurance Program, which had been set to expire at the end of July.

To contact the reporter on this story: Jeff Plungis in Washington at jplungis@bloomberg.net

To contact the editor responsible for this story: Robin Meszoly at rmeszoly@bloomberg.net