WASHINGTON, DC–The US Senate passed a measure by 63-36 late Friday to extend government funding for another four months until April 28. It had been unclear until the last minute whether the measure would pass as some Senate Democrats were threatening to shut down the government unless the provision to extend retired miners' health insurance was made for a year instead of until April. Another sticking point for these Democrats, most of which hail from coal country, was a provision that only US iron and steel would be used in water infrastructure projects that another bill was funding. They backed down on that measure too.
The US House of Representatives passed its own continuing resolution early last week.
Now a bill will go before President Obama to sign.
By definition a continuing resolution is an appropriations measure that continues preexisting funding levels for a specific period of time. Sometimes there are modifications but it generally can be assumed that programs and their funding remains in place for the duration.
And so it was the case for the EB-5 funding program, which has become a significant capital source for real estate developers. The House of Representatives included it in its version of the CR. After the last CR, concerns were raised about whether EB-5 and a few other measures could be extended in a CR, via a report by the Congressional Research Service, as they are financed by fees instead of appropriated funds.
FAST Transport Funds Remain the Same
One measure that didn't make it into the CR was the increase in transport funding approved under last fiscal year's America's Surface Transportation Act, or FAST.
It has been slated to increase by $2.4 billion at the start of fiscal 2017. The CR unveiled by the House of Representatives kept the spending for that measure at fiscal 2016 levels.
The $2.4 billion reduction in transportation investment will impact next Spring's construction season, Rep. Peter DeFazio (D-Ore.), ranking member on the Transportation Committee said in a prepared statement.
WASHINGTON, DC–The US Senate passed a measure by 63-36 late Friday to extend government funding for another four months until April 28. It had been unclear until the last minute whether the measure would pass as some Senate Democrats were threatening to shut down the government unless the provision to extend retired miners' health insurance was made for a year instead of until April. Another sticking point for these Democrats, most of which hail from coal country, was a provision that only US iron and steel would be used in water infrastructure projects that another bill was funding. They backed down on that measure too.
The US House of Representatives passed its own continuing resolution early last week.
Now a bill will go before President Obama to sign.
By definition a continuing resolution is an appropriations measure that continues preexisting funding levels for a specific period of time. Sometimes there are modifications but it generally can be assumed that programs and their funding remains in place for the duration.
And so it was the case for the EB-5 funding program, which has become a significant capital source for real estate developers. The House of Representatives included it in its version of the CR. After the last CR, concerns were raised about whether EB-5 and a few other measures could be extended in a CR, via a report by the Congressional Research Service, as they are financed by fees instead of appropriated funds.
FAST Transport Funds Remain the Same
One measure that didn't make it into the CR was the increase in transport funding approved under last fiscal year's America's Surface Transportation Act, or FAST.
It has been slated to increase by $2.4 billion at the start of fiscal 2017. The CR unveiled by the House of Representatives kept the spending for that measure at fiscal 2016 levels.
The $2.4 billion reduction in transportation investment will impact next Spring's construction season, Rep. Peter DeFazio (D-Ore.), ranking member on the Transportation Committee said in a prepared statement.
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