(Money is desperately to save America's crumbling infrastructure, DrTed)
A bipartisan bid to extend existing federal transportation law for three months -- and tap the TARP bailout fund to avert the cancellation of $8.7 billion in contract authority -- was rejected on the Senate floor last night after GOP senators insisted on using stimulus money, rather than bailout cash, to fix the problem.
Senate environment committee chairman Barbara Boxer (D-CA) and her panel's senior Republican, Sen. Jim Inhofe (OK), agreed with their respective party leaders to shift $300 million in bailout money as a temporary fix to prevent state DOTs from canceling projects…