The Senate Environment and Public Works Committee voted 18 to 1 yesterday to extend the current transportation law by 18 months so lawmakers have more time to reach consensus on how to fund a multi-year replacement law and can focus on pending health care and climate change legislation.

Rep. John L. Mica, R-Fla, the top Republican of the House Transportation Committee, immediately warned a delay would be "a prelude to a national disaster" because it will shut down major infrastructure projects.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.