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Rail News: Rail Industry Trends

Senate approves TEA-21 extension


On Sept. 26, the Senate passed legislation to extend federal transit and highway programs authorized under the Transportation Equity Act of the 21st Century through Feb. 24, 2004.

The bill is expected to be sent to President Bush for his approval before TEA 21 expires tomorrow. During the five-month extension, funding will be authorized on a pro-rate basis using the funding levels established in the fiscal-year 2004 Congressional budget resolution.

Currently, the House Transportation and Infrastructure Committee is working on a $375 billion, six-year transit and highway bill, while the Senate is proposing a $311.5 billion, six-year transit and highway bill. The Bush Administration has proposed a six-year, $247 billion bill. To help support a higher budget, legislators are considering proposals to increase motor fuels taxes and create a transportation finance corporation that would issue bonds carrying either tax credits or interest.

Contact Progressive Railroading editorial staff.

More News from 9/29/2003