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Released: September 12, 2007
Lawmakers Vote $1B for Bridges
The Senate Monday approved $1 billion to repair and replace U.S.
bridges, six weeks after the Interstate 35W span collapsed in Minneapolis.
The Senate approved the funds on a 60-33 vote as lawmakers began debate on a
$104.6 billion overall transportation and housing funding bill for the budget year beginning Oct. 1. If approved, the plan would boost federal funding next year for bridge repair and replacement by 20%, but would fall well short of the $65 billion backlog of bridge repairs identified by the U.S. Department of Transportation.
The underlying bill faces a veto threat from President Bush for exceeding his request by $4.4 billion. Concerns over the national road infrastructure have been rising for shippers, carriers, and others involved in NASSTRAC in recent years as congestion and over-the-road transportation issues have become more of a challenge.
Diesel Jumps 3.1 Cents to $2.924
After staying nearly flat through July and August, diesel prices jumped more than three cents for the second week in a row. The average price around the country rose 3.1 cents last week to $2.924 per gallon as of Sept. 10, according to the U.S. Energy Information Administration. Diesel rates rose in every region but least in California and the West Coast, where the tariff was already highest.
Last week diesel in California sold for $2.995, up 1 cent from a week ago and down 1.3 cents from last year at this time. In the region as a whole, diesel was going for an average price of $2.982, up 1 cent from a week ago and down 1.55 cents from a year earlier. The biggest change was on the East Coast, where diesel rose 4.5 cents to $2.912, leaping
8.6 cents above the average for last year at this time. The Gulf Coast maintained its status as the least expensive region to buy diesel. Truckers passing through there paid an average of $2.865 per gallon, up 2.9 cents from a week ago and up 9.5 cents from a year ago.
Trade Gap Narrows
U.S. exports grew faster than imports in July, narrowing the trade deficit
$0.2 billion from June and $8.3 billion from July 2006, according to a report from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce. Capital goods and automotive vehicles, parts, and engines led the growth in exports, which was responsible for the decrease in the trade deficit to $59.2 billion in July.
Specifically, July exports totaled $137.7 billion, up $3.6 billion from June. Imports grew just
$3.4 billion to $193.5 billion from June to July. Year-over-year, exports were up $17.8 billion, or 14.8 percent, and imports were up $9.5 billion, or
5.1 percent.
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