House passes 10-month Highway Trust Fund patch
Voting 365 to 55, the U.S. House of Representatives passed the 10-month, $10.8 billion Highway Trust Fund patch, extending current highway and transit policy funding through May 31, 2015.
The $10.8 billion will be transferred from the General Fund, causing another combination of changes to pension rules, an extension of custom fees and a $1 billion transfer from the Leaking Underground Storage Tank trust fund.
The Finance Committee of the Senate also approved a $10.8 billion patch of its own on July 10 that coincides with the House version but includes some tax compliance measures. The focus now lies on Senate Majority Leader Harry Reid, D.-Nev., who must decide which version will be passed.