Before adjourning for the August break, House Republican leaders on July 29 garnered sufficient support from Democrats to send to the Senate a measure that would authorize funding for the Highway Trust Fund for three months.
Federal Reserve policymakers said the labor market and housing have improved, moving closer to ending an unprecedented period of near-zero interest rates without providing a clear signal on the timing of liftoff.
The House late Wednesday passed a short-term extension to keep federal highway funding going until October 29, right before members left on August recess, leaving the Senate to deal with before the looming Friday deadline.
It’s the Congressional version of a standoff at the OK Corral. The Senate is scrambling to finish a six-year funded highway bill and get it to a vote. The House leadership wants nothing to do with that bill on short notice and is pressing for an extension of current highway funding.