Partisan fighting over the debt ceiling on Capitol Hill has affected more than just the markets. Over the weekend, Congress failed to pass a funding extension for the Federal Aviation Administration, following a disagreement over cuts in subsidies. As a result, the U.S. government was forced to suspend collection of federal airline taxes, at a loss of approximately $200 million per week. The F.A.A had to furlough 4,000 employees, and airport modernization projects worth billions of dollars are now on hold. Congressman John Mica is a Republican representative from Florida’s seventh district. He says the Democrats are to blame for the F.A.A shutdown.
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