As legislation revamping federal financial regulation goes on the books, attention will turn to the Federal Reserve, Treasury Dept. and other agencies that will draft rules fleshing out how the mammoth measure will be implemented. Construction will watch whether banks react to the bill’s increased regulation and higher fees by tightening up on credit. Photo: Office Of Sen. Christopher J. Dodd Dodd, the measure’s primary Senate architect, says, “The arguments about the shrinking of credit availabilty are hyperbole.” Lenders’ responses may vary. The legislation sets tougher restrictions on big money-center banks than it does on smaller, community banks, which are

Spending bills for the fiscal year starting on Oct. 1 are only inching along on Capitol Hill, making a stopgap “continuing resolution” or an omnibus appropriations package increasingly likely. If that happens, it will mean continued headaches for states and contractors trying to plan for the next construction season—let alone beyond then. As of July 13, none of the 12 appropriations bills for fiscal 2011 even had cleared committee in the House or Senate, although the Senate panel had scheduled July 15 votes on three of the measures. Five spending bills had moved through House subcommittees and further subcommittee action

A construction coalition, including the Associated Builders and Contractors and Painting and Decorating Contractors of America, said on July 6 the EPA has limited authority to expand its rule covering renovation and other work involving lead paint. EPA said on May 6 it would decide by the end of 2011 whether to propose a rule to widen its lead-paint requirements to apply to public and commercial buildings.

In the latest intense competition for Dept. of Transportation funds, the agency awarded $293 million for 53 streetcar and bus projects around the country. Some of the aid will go for construction. DOT Secretary Ray LaHood, announcing the winners on July 8, said the grants are part of the Obama Administration’s community “livability” initiative, which links transportation planning and funding with housing and economic development. Awards included $130 million in Urban Circulator funds and $163 million in Bus and Bus Livability aid. The federal grants will be supplemented by local funds. Streetcar projects in St. Louis, Charlotte, N.C., Cincinnati, Fort

The Justice Dept. has filed a lawsuit seeking to stop Arizona’s new immigration law from taking effect, contending the state statute is unconstitutional and will “undermine” federal immigration enforcement. Arizona Senate Bill 1070, enacted on April 23, is to take effect on July 29. It directs police, while stopping an individual, to try to determine that person’s immigration status when there is “reasonable suspicion” that he or she is in the U.S. illegally. The Justice Dept.’s lawsuit, filed on July 6 in federal district court in Arizona against the state and Gov. Janice K. Brewer (R), says, “In our constitutional

An appropriations package that includes $2.9 billion in relief and reconstruction aid for Haiti has cleared the House and will next move to the Senate for a vote. The spending measure, which the House passed late on July 1, focuses mainly on funding for the Afghanistan war. But Republicans oppose the non-defense spending House Democrats added to the bill, and the White House has threatened a veto because of a provision that would cut certain education funding. The bill has not had a smooth path. The Senate had approved a $58.5-billion supplemental spending bill on May 27, which provided $2.8

A voluminous House-Senate conference agreement that would revamp federal financial regulation has cleared the House and awaits a vote in the Senate, where Democrats are trying to pick up enough votes for passage. The measure was approved by the House on June 30 by a 237-192 vote, generally along party lines. A Senate floor vote is the next step. The package was amended the day before the House floor vote in an attempt to draw enough votes to get it through the Senate. The amendment would omit a $19-billion fee to be charged to large banks and hedge funds and

Two Senate committees have cleared bills crafted to address aspects of the Gulf oil spill. But whether those measures will become vehicles for wider-ranging energy policy, or climate-change provisions, remains an open question. Some political observers are skeptical that the Senate will be able to approve any sort of wide-ranging bill in a congressional session that will be cut short by the mid-term elections. The Senate Energy and Natural Resources Committee approved a bill on June 30 that would toughen safety requirements for offshore drilling operations, provide adequate funding for more comprehensive inspections of offshore rigs and mandate reforms at

The Justice Dept. has filed a lawsuit seeking to bar Arizona's new immigration law from taking effect, contending that the state statute is unconstitutional and will "undermine" federal immigration enforcement. Related Links: Arizona's Immigration Law Troubles State's Contractors Justice Dept. Complaint Statement by Arizona Gov. Jan Brewer (R) Statement by Arizona Senators McCain (R) and Kyl (R) At issue is Arizona Senate Bill 1070, which Gov. Jan Brewer (R) signed into law on April 23. The measure, which is to take effect on July 29, directs police, while stopping an individual, to try to determine that person's immigration status when

A Senate report sees troubling indications that Haiti’s post-earthquake reconstruction has “stalled.” The June 22 Senate Foreign Relations Committee Democratic staff report says items to be addressed include developing “a feasible, comprehensive rebuilding strategy” and getting the Interim Haiti Recovery Commission fully operational. The Jan. 12 quake caused about 230,000 deaths and an estimated $11.5 billion in damages.