Entries in Shutdown (2)


FAA Faces Potential Shutdown If Congress Doesn't Pass Bill Friday

Comstock/Thinkstock(WASHINGTON) -- Transportation Secretary Ray LaHood urged Congress to pass the FAA reauthorization bill by midnight Friday in order to avoid a partial shutdown of the aviation agency.

“We have now reached a breaking point,” LaHood said in a press conference Thursday.  “This is no way to run the best aviation system in the world.  We need Congress to go to work, to put our employees back to work and to get the FAA bill extended or passed for the benefit of the American people.”

LaHood warned Congress that the government could lose up to $200 million a week in airline taxes along with halting projects at airports nationwide if they do not pass the reauthorization of the FAA by midnight Friday.  If an extension or bill is not passed, approximately 4,000 FAA employees will be furloughed, including employees who collect taxes from airlines and construction workers assigned to airport projects.

“Without swift action from Congress, $2.5 billion for airport projects around the country will put thousands of people in good-paying jobs, hard-working people, out of work because this money will be suspended.”

Legislators are at an impasse over a labor provision in the bill, which would make it more difficult for transportation workers to unionize.

Despite a potential shutdown looming, LaHood assured the public that safety will not be compromised if the FAA shuts down.

“Air traffic control will continue and the safety of the flying public will not be compromised.  We cannot afford to wait.”

Air traffic controllers are deemed essential safety personnel, exempting them from the impact of a shutdown.

Copyright 2011 ABC News Radio


Stocks Down at Close, Toyota Shutdown Continues

Comstock Images/Thinkstock(NEW YORK) -- The nuclear crisis in Japan continued to cause a shake-up in the financial markets Wednesday. The stocks saw a low opening Wednesday before dropping suddenly.

The Dow closed down 242 points, the Nasdaq was off 51 and the S&P lost 25.

It may be tougher to get some Japanese-made cars.  Toyota announced Wednesday that it would extend the shutdown at its assembly plants for an additional week.  The extension could affect some 95,000 vehicles.

The price of oil did rebound a bit Wednesday, closing just under $98 a barrel.  The national average for gas is now at $3.57 a gallon.

Copyright 2011 ABC News Radio

ABC News Radio