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The House completed action on the FY 2008 Transportation-HUD funding bill. The bill funds the highway program at $40.2 billion, the full amount guaranteed by SAFETEA-LU. This is a $1.1 billion increase over FY 2007 and includes $631 million in Revenue Aligned Budget Authority (RABA) funds which result from an adjustment in the authorized funding level to reflect actual Highway Trust Fund receipts. Transit funding of $9.7 billion is included, a $700 million increase over FY 2007 and the Airport Improvement Program is funded at $3.6 billion, an increase over this year's $3.516 billion funding level. Numerous floor amendments were offered to cut funding for Amtrak and to eliminate numerous earmarks for funding of specific projects but all were defeated. Ranking Committee Republican John Mica (R-FL) offered an amendment to strike a $3 billion rescission of highway contracting authority from the amounts included in SAFTEA-LU. While eliminating contract authority does not result in an actual cut in highway spending it does eliminate the potential for funding in the future and does restrict state DOT flexibility to move available funding between various funding categories. The Mica amendment was defeated. The White House has issued a veto threat because the funding levels in the bill exceed the President's budget request, objecting in particular to highway and Amtrak spending. The President's budget requested that the $631 million in RABA funds not be provided. OMB's statement said it "strongly objects" to the fact that the bill allows extra funding for the federal-aid highway program by providing the full amount "guaranteed" by SAFETAE-LU. The Senate committee passed bill has similar funding levels, including the RABA funding. That bill is not expected to be considered by the full Senate until after the August recess. AGC joined with our Transportation Construction Coalition and Americans for Transportation Mobility allies in contacting the full House and urging that the transportation programs be fully funded at the SAFETEA-LU authorized levels. Highway Construction Cost Conference- Contractor Participation Encouraged Where are highway construction material costs going in the immediate future and long term, and are there actions that DOTs and contractors can take to reduce highway construction costs. This will be the focus of a national conference scheduled for September 11, 2007 at the Hilton St. Louis Airport hotel. AGC Chief Economist Ken Simonson and ARTBA 's Vice President for Economics Bill Buchner will join spokesmen from Mittal Steel, Conoco, Portland Cement Association and an aggregate industry expert in giving their prognostications. Federal Reserve Bank economist Kevin Kliesen will discuss the global economy and its impact on the US market. Florida, Texas and Missouri DOTs will discuss measures they have implemented to reduce cost. Contractors will be asked to give their reactions.
 
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