Capital Partnerships
  A Nationally-Recognized Resource in Infrastructure Financing November 15, 2007  
 

Inside Transportation

 

From Capital Partnerships LLC

 

Change Happens Quickly on Capitol Hill 

 

The House passed the Transportation appropriations conference report for fy'08 yesterday by 270 – 147 and the Senate was set to vote on the $100.3 billion bill that funds housing, treasury and transportation programs. But this afternoon, Majority Leader Reid announced Congress will send the President an omnibus appropriations bill in December that splits the $22 billion difference between their budgets and the Administration's. The omnibus bill will contain approximately $484 billion in non-Pentagon spending, including veterans' health, foreign aid, medical research, roads, schools, national parks and the space program. The Democrats have already made "tremendously difficult cuts" in Democratic priorities ($11 billion in reductions) and are now challenging the President to compromise. An omnibus does contain project earmarks which places pressure on Republicans to support the efforts of the Democrats. Without a compromise, a continuing resolution funding the federal government at this year's level is all that is left – in that bill, there will be no project earmarks.

 

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