Oberstar ready to offer another extension

Oberstar, who seemed determined to pass a six-year transportation bill by October a few months ago, is putting together a proposal to extend SAFETEA-LU three months. His office said legislation could come down the pipe as early as next week.

“It’s obvious that we are running out of September,” Oberstar spokesman Jim Berard told Streetsblog Capitol Hill. “We are at a point where a decision has to be made. It is either extend for a short period of time or have the whole system collapse.”

The three-month stretch, which was endorsed by Rep. Pete DeFazio (D-Ore.) last week, would give lawmakers until the beginning of 2010 to come up with a new six-year plan. However, according to Streetsblog Capitol Hill, the House Ways and Means Committee and the Senate Finance Committee will still face heavy obstacles to support Oberstar’s massive $500 billion bill.