House Passes $373 Billion Spending Bill

The House voted 242-176 to approve a $373 billion year-end spending bill, HR 2673, but the Senate delayed its vote until January, the Associated Press reported.

The bill includes $45 billion for highway, aviation, and mass transit projects that come from transportation taxes, such as the federal levy on gasoline.

The package combines seven spending bills due when the government's budget year began October 1.

Intermodal Legislation

After a long wait, last month saw the filing of legislation in the Senate that would require intermodal companies to assume responsibility for placing safe chassis and containers on the road. As we are all aware, this has been a contentious issue between motor carriers and intermodal companies, as trucking companies now assume all responsibility for these units once they are accepted.

This new legislation, if passed, should reduce exposure to insureds and insurers alike. The Senate bill has been referred to the Senate Commerce, Science and Transportation Committee.

Oklahoma Senator Plans to Draft Bill to Increase Fuel Taxes

Oklahoma state Sen. Robert Milacek plans to draft a bill that would allow Oklahomans to vote on whether to raise the fuel tax to help fund

repairs and maintenance for the highway system, the Associated Press reported.

The bill would include a gradual increase in gasoline and diesel taxes. But unlike an earlier measure that failed, it would require all proceeds to go to roads and bridges, AP said. 

Oklahomans pay 14 cents a gallon for diesel and 17 cents for gasoline. Milacek's proposal would phase in the tax increases with gasoline reaching its highest level on July 1, 2006, and diesel hitting its top level a year later.

When fully implemented, the higher fuel taxes would produce $145 million a year, Milacek told AP. The higher taxes would remain in effect until June 30, 2030, when prices would return to current levels.

Senators Propose Bonds to Raise $50 Billion for Roads

The U.S. government would raise $50 billion for highway and transit projects in a bond sale under a plan by three senators to avoid an increase in taxes on motor fuels, Bloomberg reported.

The bond sale, proposed by Sens. James Talent (R-Mo.), Ron Wyden (D-Ore.), and Norm Coleman (R-Minn.), would be in addition to $255 billion a Senate committee plans to spend on highways over six years, Bloomberg said.

The proposal would create a nonprofit corporation that would issue about $63 billion in 30-year bonds, $13 billion of which would be invested in low-risk securities to pay the principal, Bloomberg said.

The government would pay about $3 billion a year in interest to the bondholders in the form of tax credits.

Source: Oklahoma Trucking Association

TSA Extends Fingerprint Deadline

The Transportation Security Administration’s long-awaited announcement delaying the date upon which the fingerprint-based criminal history records checks must begin was recently published in the Federal Register. According to the notice, states will have until April 1, 2004, to begin collecting fingerprints and biographical information of individuals applying for a hazardous materials endorsement to their CDLs.

Government Web Sites

U.S. House of Representatives

http://www.house.gov

House Committee on Transportation & Infrastructure

http://www.house.gov/transportation

U.S. Senate

http://www.senate.gov

Senate Committee on Commerce, Science & Transportation

http://www.senate.gov/~commerce

The White House

http://www.whitehouse.gov

Federal Trade Commission

http://www.ftc.gov

U.S. Department of Commerce

http://www.ftc.gov

U.S. Department of Labor

http://www.dol.gov

Occupational Safety & Health Administration

http://www.dol.gov

U.S. Department of Transportation

http://www.dot.gov

Bureau of Transportation Statistics (BTS)

http://www.bts.gov

Federal Highway Administration (FHWA)

http://www.fhwa.dot.gov

National Highway Traffic Safety Administration