James Oberstar: “The House has done its job on aviation. We passed, on September 20, the reauthorization act to extend aviation programs…”

“The House has done its job on aviation. We passed, on September 20, the reauthorization act to extend aviation programs through 2011. Shortly thereafter, we passed another bill to provide a short-term extension of FAA programs. Then in November, we passed another attempt to extend aviation programs in the short term. Regrettably, our colleagues across the way in the other body have not acted on any of these. If we don't act, frankly, the FAA just simply runs out of money. It will run out of authority to spend money. It will run out of authority to collect the revenues. So the House again, thank goodness the Ways and Means Committee is doing its job of carrying the load, has brought to the floor with our participation and vigorous support an extension of the revenue authority for the FAA programs. First of all, we extend with this legislation the aviation taxes. Now, that covers 80 percent of FAA's budget. And with an uncommitted cash balance of only $1.5 billion, any lapse in the aviation taxes could put solvency of the trust fund at serious risk.”