Dow Jones & Company, Inc. — September 24, 2009

By Josh Mitchell and Corey Boles

WASHINGTON (Dow Jones)–The U.S. House approved legislation Wednesday to
temporarily extend current funding levels for highway-construction and aviation programs. The moves effectively delay planned overhauls of federal
transportation policies until at least next year.

The House voted to extend funding formulas for construction of highways, bridges and mass transit for another three months. Separately, the House voted to extend the taxing and spending authority of the Federal Aviation Administration for another three months.

Both laws are set to expire Sept. 30. The Senate has yet to act on either
matter.

The extension of the highway bill puts on hold efforts by some House Democratic leaders to pass a six-year, $450 billion bill that would set the nation’s long-term transportation priorities and drastically increase spending on infrastructure projects. It deals a setback to construction firms that have pushed for a spending boost to stem rising joblessness in those sectors.

The legislation could face a hurdle in the Senate, where some members have
indicated they would push for an 18-month extension, pushing debate on a new
highway bill until after the 2010 election. President Barack Obama’s
administration has said it favors an 18-month extension.

Some senators and Obama officials said they need more time to focus on other
priorities such as health-care reform and climate-change legislation before
tackling the transportation debate – which is surely to include the contentious issue of how to find new sources of funding for projects.

Transportation Secretary Ray LaHood said Wednesday the administration would
likely defer to Congress on the length of an extension.

As a backup plan, House lawmakers are expected to include a separate, one- month extension of highway-construction policies in broader legislation to keep the government running through October.

This legislation, which could face a vote Friday, might be necessary because
Congress has failed to complete work on the 12 must-pass spending bills that are required to keep the federal government running each year. The one-month
transportation extension would ensure transportation funding continues past
Sept. 30 in case the Senate fails to take up the longer, three-month extension.

The FAA extension act comes as Congress studies wide-ranging legislation that
would boost funding for an upgrade to the nation’s air-traffic management
system, make it tougher for airlines to join global alliances that cooperate on scheduling and revenue-sharing and to establish a “passengers’ bill of rights.”

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