Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Aug 11, 2015

Epstein Publishes Article on Highway Funding Legislation

Counsel Paul Epstein (New York-Project Development & Finance) wrote an article, titled “A Road Map to Long-Term Highway Funding Legislation,” published by Law360 on August 10.

The article summarizes the key elements of the recently enacted Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, which extended the Highway Trust Fund’s authority to provide transportation funding to the states through Oct. 29, 2015. The article also highlights certain material provisions of the proposed Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act, a long-term bill recently passed by the Senate.

According to Epstein, there appears to be bipartisan consensus that could lead to the first long-term transportation bill in a decade. He notes, “While the enactment of the [Surface Transportation and Veterans Health Care Choice Improvement Act of 2015] itself means little for the future of long-term federal transportation funding..., activity in Congress leading up to its passage, and comments from key congressional leaders about its next steps, provide a reason for optimism for a deal following Labor Day.” Whether Congress is successful will depend primarily on the ability to reach a compromise on the appropriate funding mechanism, he adds.