$24-Billion ‘Stimulus 2’ Floated in Senate
It’s little wonder Senate Appropriations Committee Chairman Robert Byrd’s proposed new economic stimulus package got good reviews in the construction industry: More than half of the plan’s $24.1 billion in appropriations is aimed at infrastructure. and another provision would fix the projected Highway Trust Fund deficit. But the proposal faces an uphill path. Congress may have as few as three weeks to act on it before the election. Moreover, Republicans haven’t rushed to embrace Byrd’s ideas.
The West Virginia Democrat maintains that “the need for a second stimulus supplemental bill is clear,” and cites the economy’s low growth rate and large job losses. His plan, not yet introduced as a bill, covers a wide range of public works, including $4.7 billion in highway appropriations. The package also would shift $8 billion from the general fund to the Highway Trust Fund, which would more than cancel a projected $3-billion 2009 shortfall in the trust fund’s highway account.