On Thursday, the Senate considered dueling Democratic and Republican proposals that would provide funding for infrastructure projects and failed to advance either bill. The Democratic proposal, which was spun-off from President Obama’s American Jobs Act, would have provided $10 billion in funding to establish a National Infrastructure Bank capable of funding major transportation, energy, and water infrastructure projects. The bill also included $50 billion in new transportation infrastructure funding, most of which would be distributed by formula to states and Metropolitan Planning Organizations, with $5 billion reserved for the competitive TIGER grant program. The bill received 51 votes, short of the 60 needed for passage.
Senate Republicans offered an alternative infrastructure bill in the form of a two-year transportation reauthorization proposal. Both the Senate and the House have been working to pass legislation that would reauthorize the nation’s surface transportation programs, which have been funded under temporary authorizations since the last long-term authorization expired in 2009. The Republican proposal would have extended the current authorization for two more years, while reforming the environmental review and approval processes in an attempt to reduce construction times for projects. However, in order to cover the significant funding gap between current gas tax revenue and authorized highway spending levels, the bill would also have rescinded $40 billion in previously appropriated domestic funding. The bill was defeated primarily along party lines, as Democrats objected to the discretionary funding cut.
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