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Guest
With only a week to go until funding expires for federal highway construction and student loan rates soar, negotiators in Congress are working to cut a deal that would defuse two political time bombs ahead of the November general election.
"All I can confirm is that work continues through the weekend, the goal being a final agreement that can get wrapped up next week," a House of Representatives Republican aide said on Saturday.
Failure would have a direct impact on the economy ahead of the November 6 vote. About 3 million road, rail and transit jobs hinge on the transportation funding bill.
Without a deal, interest rates for federal student loans are set to double on July 1 to 6.8 percent.
Democratic negotiators had offered concessions on Republican demands to streamline environmental reviews for certain types of road projects to speed construction, said aides from both parties.
Also in play was a possible compromise to ease proposed environmental regulations for coal ash, a byproduct of coal-fired power plants used to lower the cost of cement and other construction materials.
The battle over the Keystone XL crude oil pipeline from Canada to Texas continues to loom over the talks.
House Republicans want quick approval of the pipeline as part of the transportation bill...
Republicans have already been exploring alternatives for attaching the Keystone fast-track provision to other crucial legislation this year.
http://www.chicagotribune.com/news/...nsportationbre85m0l7-20120623,0,5481980.story
"All I can confirm is that work continues through the weekend, the goal being a final agreement that can get wrapped up next week," a House of Representatives Republican aide said on Saturday.
Failure would have a direct impact on the economy ahead of the November 6 vote. About 3 million road, rail and transit jobs hinge on the transportation funding bill.
Without a deal, interest rates for federal student loans are set to double on July 1 to 6.8 percent.
Democratic negotiators had offered concessions on Republican demands to streamline environmental reviews for certain types of road projects to speed construction, said aides from both parties.
Also in play was a possible compromise to ease proposed environmental regulations for coal ash, a byproduct of coal-fired power plants used to lower the cost of cement and other construction materials.
The battle over the Keystone XL crude oil pipeline from Canada to Texas continues to loom over the talks.
House Republicans want quick approval of the pipeline as part of the transportation bill...
Republicans have already been exploring alternatives for attaching the Keystone fast-track provision to other crucial legislation this year.
http://www.chicagotribune.com/news/...nsportationbre85m0l7-20120623,0,5481980.story