House Republican Leaders on May 30 said they will propose a one-year extension of surface transportation legislation paid for by trimming Saturday postal services and transferring the balance of the Leaking Underground Storage Tank Trust Fund to the Highway Trust Fund.
In a memo to all House Republicans, Speaker John Boehner, Majority Leader Eric Cantor, and Majority Whip Kevin McCarthy said, “We are preparing a proposal that would combine a move to modified 6 day postal delivery along with a short-term extension of the highway bill that places the necessary resources into the Trust Fund to prevent a disruption of highway projects.”
Between $14 billion and $15 billion is needed for a one-year extension of the current surface transportation legislation, MAP-21, according to the Congressional Budget Office. Under current House Rules, a transfer of general funds into the Highway Trust Fund must be offset.
The Republican Leaders said modifying Saturday mail services would provide $10.7 billion over the next 10 years. They also plan to seek a $1.3 billion transfer from the LUST Fund, which is financed by a 0.1 cent excise tax on fuel sales.
“If these policies were included as payfors for an extension of MAP-21, the Transportation and Infrastructure Committee has concluded that solvency of the Highway and Transit trust funds could be extended through the end of May 2015,” the memo said.
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