FAQ: What are rescissions? Will my state lose transportation money?
October 5, 2009By Stephen Lee Davis
Friday, we explained the details surrounding the expiration of the transportation bill on Wednesday night and the one-month extension that was passed. Read that here. Due in part to the failure of a bipartisan plan to shift some revenue to satisfy House budget rules, the states are also losing a total of $8.7 billion in transportation spending, known by the unmistakably Washington-transportation-insider term of a “rescission.”
Here’s our attempt to simplify that issue just a little bit for those who are interested in the policy details. Non-wonks, feel free to skip over this one. Just a fair warning! Click through the jump to read in its entirety.
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