• Thursday, July 30, 2015 - 14:32


    --Senate Approves Extension Until Oct. 29 on 91 to 4 Vote
    --Senate Passed Longer-Term Bill Earlier Thursday

    WASHINGTON (MNI) - The Senate Thursday approved legislation that replenishes the Highway Trust Fund until October 29, sending the measure to President Barack Obama for his signature.

    The Senate approved the bill on a 91-to-4 vote. The House approved the identical bill Wednesday on a 385-to-34 vote.

    The Highway Trust Fund runs dry at the end of the week so the legislation is needed to keep highway programs funded.

  • Thursday, July 30, 2015 - 12:51


    --Senate Also Will Pass 3-Month Highway Bill to Keep Programs Funded

    WASHINGTON (MNI) - The Senate Thursday approved a surface transportation bill that authorizes highway and mass transit programs for six years while funding them for three years, which also includes reauthorization of the Export-Import Bank.

    The Senate passed the bill on a 65 to 34 vote, sending it to the House which will take up a long-term highway bill in the fall.

    The Senate also will vote later in the day on a short-term bill that replenishes the Highway Trust Fund until October 29.

  • Thursday, July 30, 2015 - 10:49


    --Senate Also Will Pass 3-Month Highway Bill to Keep Programs Funded

    WASHINGTON (MNI) - Senate Majority Leader Mitch McConnell said the Senate Thursday will pass a "bipartisan, multi-year highway bill," and also will vote on a three-month extension to keep the programs running.

    In remarks on the Senate floor, McConnell touted the Senate's surface transportation bill that authorizes highway and mass transit programs for six years while funding them for three years.

    McConnell worked closely with California Democrat Barbara Boxer and others to assemble a highway bill that includes $47 billion in revenue raising offsets to fund transportation programs for three years.

    The Senate bill includes the renewal of the Export-Import Bank.

  • Thursday, July 30, 2015 - 10:06


    WASHINGTON (MNI) - The following is the text of a statement by Jason Furman, chair of the White House Council of Economic Advisers, reacting to Wednesday's release of the advance estimate of GDP for the second quarter:

    Real GDP rose faster in the second quarter than in the first, even after a large upward revision to first-quarter growth. Strong personal consumption led the rebound as consumers spent more of the windfall gains from lower oil prices that they had saved in the first quarter, and many of the temporary factors that restrained growth in the first quarter faded.

  • Wednesday, July 29, 2015 - 17:39


    --House Approves 3-Month Extension On 385-To-34 Vote
    --Senate Expected To Pass Short-Term Bill Thursday
    --GOP Leaders Say Hill Will Craft Long-Term Bill in Sept

    WASHINGTON (MNI) - The House Wednesday evening approved legislation that replenishes the Highway Trust Fund for three months.

    The House passed the bill on a 385-to-34 vote, sending it to the Senate which is expected to vote on the measure Thursday.

    The Highway Trust Fund runs dry at the end of the week so legislation is needed to keep highway programs funded.

    Several weeks ago, the House passed legislation that would replenish the Highway Trust Fund for only five months, until Dec. 18.

    However under its new plan, the House bill replenishes the Highway Trust Fund until Oct.

  • Wednesday, July 29, 2015 - 17:03


    --House Financial Services Panel Continues to Rebuke Fed
    --Bill Has Uncertain Future in House, Bleak One in Senate

    WASHINGTON (MNI) - With a long summer vacation looming for the House, the House Financial Services Committee decided to leave Washington by doing what it does best: pass legislation that spanks the Federal Reserve.

    The House Financial Services Committee approved the so-called Fed Oversight Reform and Modernization Act Wednesday on a party line, 33-25 vote.

    But given that that bill faces an uncertain fate in the House and a grim one in the Senate, the legislation seems largely designed to send a message to the Fed that a sizable number of Republicans want to substantially change the mission and operations of the Fed.

    The bill would require

  • Wednesday, July 29, 2015 - 16:45


    --Could Last for Brief Additional Period, Subject to Uncertainty
    --Expect to Announce Extension of Debt Issuance Suspension to Oct 30

    WASHINGTON (MNI) - U.S. Treasury Secretary Jack Lew said Wednesday he expects the extraordinary measures Treasury is using to remain under the already-exhausted statutory debt limit will be effective through the end of October or perhaps a bit longer, but those estimates are subject to "considerable uncertainty."

    In a letter to House Speaker John Boehner, Lew said he expects to announce Thursday that he is extending the suspension on the issuance of debt on investments of government retirement funds through Oct.

  • Wednesday, July 29, 2015 - 15:07


    --House Speaker Predicts 'Very Successful Fall'
    --Rep. Boehner: House To Pass Three Month Highway Bill Wednesday

    WASHINGTON (MNI) - House Speaker John Boehner predicted Wednesday that Congress will be able to navigate through a host of difficult fiscal issues when lawmakers return to Washington after Labor Day, adding he expects "pretty smooth sailing" ahead.

    "I'm looking forward to a very successful fall," Boehner said at a briefing.

    "It's going to be exciting," he added.

    The House is expected to begin its August recess Wednesday evening. The Senate is scheduled to be in session next week.

    Congress will need to find a way to fund the federal government for the 2016 fiscal year which begins Oct.

  • Wednesday, July 29, 2015 - 10:38


    --On Highway Bill, Admin Still Holding Out for Significant Infra Spending

    WASHINGTON (MNI) - The end result of all the twists and turns in reaching an extension of the highway bill will not be a one-time repatriation holiday for profits held overseas, and the administration will hold out for a "significant" infrastructure spending package, Treasury Secretary Jack Lew said Wednesday.

    "There's no way to do this without ruffling some feathers," Lew said of the structuring of a highway bill that all parties intend to be a legislative vehicle for much more than transit funding. Lew answered questions at a gathering organized by the Christian Science Monitor.

  • Wednesday, July 29, 2015 - 10:06


    --House Set To Pass 3 Month Extension Wednesday
    --Senate Expected To Pass Short-Term Bill By Thursday
    --McConnell: House-Senate To Craft Long-Term Bill in Sept

    WASHINGTON (MNI) - After several flat tires, missed turns, and ugly detours, the House and Senate now seem poised to take a three highway funding bill journey together.

    Put more directly, the House is expected to pass Wednesday a three month replenishment of the Highway Trust Fund with an additional provision to bolster veterans hospitals.

    The Highway Trust Fund runs dry at the end of the week so legislation is needed to keep highway programs funded.

    Several weeks ago, the House passed legislation that would replenish the Highway Trust Fund for only five months, until Dec.