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The Hill: Obama to sign highway bill Friday
Posted By Tina Grady Barbaccia On July 5, 2012 @ 9:37 am In Economics,News & Analysis | No Comments
President Obama on Friday will sign the combined transportation, student loan and flood insurance bill at a White House event, according to a July 3 report by Keith Laing in The Hill.
The House and Senate on June 29 passed a new two-year $105 billion surface transportation reauthorization bill, Moving Ahead for Progress in the 21st Century (MAP-21), the AASHTO Journal reports. The measure, H.R. 4348, passed the House 373-52, just before the June 30 expiration of the ninth extension of SAFETEA-LU. The Senate passed the bill 74-19, according to the AASHTO Journal report.
The measure has just been waiting for Obama’s signature.
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The ceremony will follow a two-day bus trip through Ohio and Pennsylvania for Obama. That trip concludes with an event in Pittsburgh Friday afternoon.
Obama is also timing the signing for the June jobs report, which will provide the latest snapshot of the U.S. economy. Obama has touted the transportation bill as a job creator.
The combined bill extends federal transportation spending for two years, federal floor insurance for five years and keeps a 3.4 interest rate on federal Stafford student loans for one year.
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