Congress last week passed stopgap legislation that would extend through Sept. 30 funding for the Federal Aviation Administration that includes grants to airports for improvement projects. The bill was approved after lawmakers removed provisions that would have added $8 billion to the Highway Trust Fund.

The three-month FAA extension continues funding at current levels for the Airport Improvement Program, which was authorized to provide about $3.7 billion in grants this fiscal year to about 3,400 airports for modernization projects. Grants from the AIP are sometimes used to back tax-exempt bonds, but more often supplement other funding sources such as bond proceeds and state and local grants.

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