End of FAA Crisis In Sight?

Congressional leaders reportedly reached a deal Thursday to temporarily resume funding for the Federal Aviation Administration (FAA). The action could end an impasse that partially shutdown the FAA and put thousands of federal employees out of work and stopped work on 200 airport construction projects.

Senate Democratic aides cited by CNN and FOX News say the Senate will pass the necessary legislation by unanimous consent today in a so-called "pro forma" session being held while the chamber is in recess.

Senate Majority Leader Harry Reid (D-NV), as the lone senator present, will conduct the pro forma session and call for unanimous consent to pass the measure, which previously was approved by the House.

The impasse over the FAA has drawn sharp criticism from the travel industry.

FAA funding expired in late July and the agency has been unable to collect federal taxes on airline tickets -- leading to a revenue loss of approximately $30 million a day. If the dispute continued until Congress returned from its summer recess in September, the federal government would have been out more than $1 billion in revenue.

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