Congress Sends 5-Year, $305 Billion Highway Plan to Obama
- Measure revives Export-Import Bank after five-month lapse
- McConnell says bill is longest-term plan in almost two decades
Cars move along during rush hour traffic on the US 101 Freeway in this aerial photograph taken over the Sherman Oaks neighborhood of Los Angeles on July 10, 2015.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Republicans and Democrats in Congress teamed up to send President Barack Obama a five-year, $305 billion U.S. highway funding plan despite some lawmakers’ misgivings that it would be paid for in part by cuts in Federal Reserve dividend payments to large banks.
The bill, passed 83-16 by the Senate Thursday night, will also revive the U.S. Export-Import Bank, whose charter lawmakers had allowed to expire on June 30. The House passed the highway measure 359-65 earlier in the day.