House approves pork-laden transportation bill

The massive bill also includes measures to prevent an increase in interest rates for student loans, and subsidies to underwrite federal flood insurance. But it is the transportation part of the bill that, as always, has something for everyone on the Hill. At least this version only maintains spending at current levels. Reuters: Congress gave final approval on Friday to a massive job-creating U.S. transportation bill that under a bipartisan deal will also keep interest rates low for millions of federal student loans and maintain federal flood insurance. After months of negotiations, the compromise was reached just days before the deadlines for an increase in student loan rates and for a lapse in transportation funding. The Republican-led House of Representatives and Democratic-led Senate passed the measure on back-to-back votes, clearing the way for President Barack Obama to sign it into law. In a rare display of bipartisanship, Democrats and Republicans embraced the...(Read Full Post)