Senate Finance Committee to Mark Up Transportation Reauthorization Bill
The U.S. Senate Finance Committee announced that it will mark up its component of the federal transportation reauthorization bill tomorrow, February 7, at 2:00 pm CT. Called the Highway Investment, Job Creation, and Economic Growth Act of 2012, the bill would provide the financing components of the highway, transit, safety, and research bills passed by various Senate committees since last November. The bill would reauthorize the Highway Trust Fund and federal revenue sources such as the gas tax. These revenue sources are expected to be insufficient to fully fund the $109 billion two-year program provided for by the other Senate committees, so the bill identifies $9.6 billion in offsets to fully fund the federal transportation program. For details on the bill, refer to this document prepared by the federal Joint Committee on Taxation. The markup will be available via webcast on the Senate Finance Committee website.