Conferees working on the House version of the federal transportation bill, HR 3550, said they were closing in on a price to offer Senate conferees, but a July 15 meeting with Senate conferees was canceled as bargaining on the House version continued.

Bargaining issues yet to be worked out are state funding allocations, minimum guarantees and details related to state projects.

Meanwhile, sources told Land Line that Congressional entities had agreed to overall funding numbers of $290 billion for obligational authority and $303 billion for overall spending authority.

Obligational authority is the yearly limit Congress sets on the amount of money transportation agencies may commit the government to pay for highway and transit projects.

Another House/Senate conferee meeting will probably be rescheduled for July 26 or 27, sources told Land Line.

Negotiations have been difficult because transportation leaders in both parties from both chambers of Congress want to spend as much as possible on highway programs and projects, but the White House has said President Bush would veto anything more than the $256 billion he proposed.