WASHINGTON — Hoping to avert the kind of headlines politicians dread, congressional leaders are aiming for final passage by week’s end of legislation reshaping federal transportation programs and preventing a doubling of interest rates for millions of new student loans.
Without action by Saturday, federal authority to conduct road, mass transit and other transportation programs would end, along with the government’s ability to collect gasoline and diesel taxes that fund most of those programs, costing what Sen. Barbara Boxer, D-Calif., said would be 3 million jobs.
House and Senate leaders agreed Wednesday on the transportation and student loan measures and wrapped them together in hopes of sidestepping parliamentary obstacles and speeding Congress’ work.
On the highway measure, Republicans dropped demands for one provision forcing federal approval of the proposed Keystone XL oil pipeline from Canada to Texas, and another blocking the government from regulating toxic ash produced by coal-fired power plants. In exchange, Republicans won concessions curbing environmental reviews for highway projects.
Interest rates for subsidized Stafford loans issued starting Sunday would double to 6.8 percent without action.
