U.S. Sen. Jim Inhofe (R-Okla.), senior member of the Environment and Public Works (EPW) Committee, today voted in favor of H.R. 5021, the Highway and Transportation Funding Act of 2014, which will allow for highway and transportation projects to continue through May 31, 2015, by providing nearly $11 billion in off-set highway funds.
"I applaud Congress for coming together before August to prevent many critical road and transit projects around the country, including several in Oklahoma, from coming to a grinding halt," said Inhofe. "Without the extension, the Oklahoma Department of Transportation would have been forced to suspend up to 70 projects, including widening of both I-40 and I-44 as well as replacing a handful of crumbling interstate bridges. Shutting down active construction leads to delay claims and contractor restart costs, which are all unrecoverable and amount to millions for Oklahoma alone. While this temporary solution is not a cure-all for the Highway Trust Fund, I believe the strong bipartisan support shown this week is a sign that Congress can once again put in place a long-term, responsible solution in the coming year. I look forward to working with my colleagues on legislation that will provide our transportation industry with certainty and the resources they need to maintain our nation's vital infrastructure system."
H.R. 5021 provides the Highway Trust Fund with $10.9 billion with offsets to include pension smoothing, extending customs fees, and transfers money from the Leaking Underground Storage Tank trust fund.