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On November 5, the United States House of Representatives passed a six-year federal highway and transit bill. By a vote of 363-64, the bill passed nearly $340 billion in new funding for the nation’s crumbling infrastructure. This marks the first time in almost a decade that long-term infrastructure funding has passed in the U.S. House. With the passage of the bill, negotiations will begin with the U.S. Senate who has passed its own long-term funding plan. If the conferees can resolve the differences between the two bills, federal transportation engineers and planners will have the certainty needed to begin large scale projects in the U.S. that had previously been postponed due to uncertainty of funding. Within the same transportation legislation, the Export-Import Bank was renewed giving the Bank its best shot at passage since it expired in June. Wrapping the Ex-Im legislation into the transportation bill gives it a fighting chance to meet Senate approval after Senate Majority Leader Mitch McConnell said earlier this year he won’t allow a stand-alone vote on Ex-Im reauthorization.
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U.S. House Passes Long-Term Infrastructure Funding Bill