Congress nears agreement on transportation bill

By WEEK Reporter

June 28, 2012 Updated Jun 28, 2012 at 10:36 PM CDT

Congressman Aaron Schock says congress is finally in agreement and ready to vote on a new transportation bill.

After nine extensions, and months of difficult talks, bipartisan House and Senate negotiators reached a tentative deal on a giant transportation funding bill.

Schock says it is a two year, 3 month deal that would begin in October.

He says this bill streamlines the process and will be beneficial for road projects across the country, especially in Illinois.

"This bill cuts the time to build the road from on average from 15 years to four years. It dramatically streamlines the environmental analysis, the engineering analysis, and communication between state department of transportation and federal department of transportation."

The transportation bill also stops federal student loan rates from doubling next week.

If approved, it will differ the student loan rate increase for one year.

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