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| A Nationally-Recognized Resource in Infrastructure Financing | January 25, 2011 | ||
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Inside Transportation |
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HOUSE VOTES TO ROLL BACK GOVERNMENT SPENDING |
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Today, with full Republican support and votes from 17 Democrats (256-165), the House of Representatives voted to cut spending back to or below fiscal year 2008 levels. This H.Res. 38 proposes a severe rollback that is now in the hands of the Congressional Budget Committee lead by Chairman Paul Ryan (R., Wisconsin), who is expected to set the budget and spending ceiling next week. While the resolution does not affect military and other security spending, discretionary spending for many other agencies and programs will be impacted by the effort to cut back between $80 and $100 billion. In particular, appropriations to the subcommittee for Transportation, Housing and Urban Development saw a 28% increase between 2008 and 2010 and it will be very difficult to make cuts that would return us to 2008 spending levels. One possibility to reduce spending may involve rescinding transportation appropriations from last year that remain unobligated, such as high speed rail funding. Though the House is calling for cuts and the Budget Committee will soon decide on spending limits, the Obama Administration has identified transportation funding as important for the creation of jobs and the strengthening of the national infrastructure; budget decisions made in the next few weeks should shed light on the future of many transportation projects for 2011 |
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