Related Links: Text of Senate-passed TRIA extension House Financial Services Chairman Hensarling's statement on Senate-passed bill A move to reauthorize the federal backstop for terrorism insurance has gained ground, with the Senate's July 17 approval of a seven-year extension. But House Financial Services Committee Chairman Jeb Hensarling (R-Texas) criticized the Senate bill and said resolving the issue will take months.Industry officials want Congress to extend the Terrorism Risk Insurance Act, or TRIA, before it expires on Dec. 31. Jeffrey D. DeBoer, Real Estate Roundtable CEO, said that, if TRIA lapses and commercial real estate owners lack terrorism coverage, it would

Related Links: White House summary of infrastructure finance initiative Obama July 17 memo to agency heads President Obama has launched a program that aims to find ways to tap more private-sector dollars to help finance a wide range of U.S. infrastructure projects, but the plan doesn’t include any new federal spending.The Build America Investment Initiative, which Obama kicked off in a July 17 memorandum to agency heads, consists of several modest, incremental actions, including what he called a new “one-stop shop” at the U.S. Dept. of Transportation to identify barriers to greater use of private transportation infrastructure investment and find

Photo Courtesy of VDOT Related Links: Congressional Joint Committee on Taxation analysis: Trust-fund impact of House bill, as approved by Ways and Means Committee Joint Committee on Taxation analysis of Senate Finance bill's impact on trust fund Legislation to add $10.8 billion to the ailing Highway Trust Fund, which could keep the fund in the black into next spring, is moving ahead in Congress as the House passed the measure on July 15 by a strong 367-55 vote.The House-approved trust-fund "patch" has the same bottom line as a measure that the Senate Finance Committee cleared on July 10. But the

Related Links: Bureau of Labor Statistics June employment report, with data tables Associated General Contractors of America release and analysis of BLS report Associated Builders and Contractors release and analysis of BLS report Construction’s employment picture is getting a bit brighter, as the industry added 6,000 jobs in June and its jobless rate dipped to 8.2% from May’s 8.6%.The Bureau of Labor Statistics’ monthly employment report, released on July 3, also showed that construction’s jobless rate last month was markedly better than June 2013’s 9.8% level and was the industry’s best monthly figure in nearly six years.Construction segments had mixed

Related Links: Description of Wyden's revised trust-fund-fix proposal (6/26/2014) DOT Secretary Foxx's July 1 letter to state DOTs outlining new highway reimbursement plan As the Highway Trust Fund's looming shortfall sparks a U.S. Dept. of Transportation cash-conserving plan, construction and state transportation officials will have to wait a bit longer for the Senate Finance Committee to act on a short-term rescue for the diminishing fund.WYDENCommittee Chairman Ron Wyden (D-Ore.) postponed until the week of July 7 a slated June 26 committee vote on his proposed $9-billion trust-fund infusion. But indications are that the extra time will help build a bipartisan

Related Links: Text of Supreme Court NLRB v. Noel Canning decision (majority and concurring opinions) High Court Rules Against Obama on NLRB Recess Appointments Nation's High Court Hears Recess Appointment Case (enr.com 1/14/2014) [subscription] The National Labor Relations Board will be poring over more than 400 decisions, from 2012 and 2013, in the wake of the U.S. Supreme Court's unanimous June 26 ruling that President Obama exceeded his authority in naming three members to the board during a three-day break between Senate sessions.But the court's unanimity about that judgment veils a split. Five justices signed on to the majority opinion.

Related Links: Foxx's letter to state DOTs As the Highway Trust Fund slips toward a deficit, the U.S. Dept. of Transportation has laid out a detailed plan to conserve its cash by slowing down aid distributions to states in August.DOT Secretary Anthony Foxx notified state DOTs on July 1 that unless Congress adds revenue to the trust fund, his department will cease its current daily reimbursements on Aug. 8 and instead shift to twice-a-month distributions.President Obama weighed in on the issue in a July 1 speech in Washington, D.C. With the Key Bridge across the Potomac River as a backdrop, Obama said,

Related Links: Text of court's decision in NLRB v. Noel Canning Supreme Court to Hear NLRB Recess-Appointment Case (enr.com 6/25/2013) [subscription] The U.S. Supreme Court has ruled unanimously that President Obama exceeded his authority when he named three members to the National Labor Relations Board in January 2012 during a three-day break between Senate sessions.But the court’s unanimity about that judgment thinly veils a split. Five justices signed on to the majority opinion. The other four, though concurring that Obama went beyond his powers, said the majority should have gone much further in limiting presidential authority.The ruling calls into question

Related Links: Summary of Wyden's trust-fund proposal Sen. Orrin Hatch's comment on Wyden's plan Senate Finance Committee Chairman Ron Wyden (D-Ore.) has proposed a way to shore up the teetering Highway Trust Fund, but just through Dec. 31. His solution is a group of revenue raisers, including a higher tax on heavy trucks, to pull in $9 billion over 10 years.But Finance's top Republican, Orrin Hatch (Utah), finds fault with Wyden's plan, which the committee was slated to take up on June 26. Hatch said Wyden's proposal isn't bipartisan, despite weeks of negotiations. Hatch said he would work with Wyden

Related Links: Murphy-Corker press release with link to summary of proposal FHWA table: federal highway user fees Two U.S. senators have proposed hiking the federal gasoline and diesel taxes by 12¢ per gallon over two years and indexing the levies to account for annual inflation after that.The lawmakers—Sens. Chris Murphy (D-Conn.) and Bob Corker (R-Tenn.)—acknowledge that their plan, which they announced on June 18,  isn’t likely to be adopted in time to patch the Highway Trust Fund’s near-term financial hole. Instead, they say they are aiming to have their plan become part of a hoped-for, long-term surface transportation reauthorization late