Lawmakers in Washington, D.C. are deciding whether billions in funding will go to states for fixing up roads – and they’re on a tight deadline.
The funding has been a major issue for places like Texas where roads need fixing and about a fifth of the state’s 50,000 bridges are functionally obsolete.
Historically speaking, fixing roads is one the few things for which there’s been bipartisan agreement in both decision-making branches of the federal government. But on this current issue, there’s been considerable rancor in the Senate over a provision in the transportation bill.
The bill appears to pit the nation’s highways against banks. More specifically, it would dip into a pot of money that banks get from the government and transfer the loot to federal funding given to states to help repave roads.
Ryan Tracy reports on financial regulation for the Wall Street Journal. He gives us the breakdown.
What you’ll hear in this segment:
– A brief history of the federal transportation funding program.
– Do Republicans support this plan to shift money from banks to roads?
– Just how much is $1.7 billion in regards to the federal budget?
– Is it likely Texas will get the money needed for our roads?
