Finding rare political accommodation on the cusp of a holiday recess, Congress passed legislation Friday designed to salvage 2.8 million jobs and shield students from a sharp increase in loan interest rates.

The legislation, which also revamps highway and transit programs and shores up the federal flood insurance program, now goes to the White House for President Obama's signatures.

Lawmakers trying to leave town for a weeklong Fourth of July recess had been facing twin deadlines: Federal highway and transit aid programs and the government's authority to levy federal fuel taxes were expiring Saturday. And interest rates on new student loans were set to double on Sunday...

“Today, POTUS will call for extension of the transportation bill which expires 9/30. If not extended, nearly a million will be out of work. Normally, we wouldnt have to worry about this, but the FAA debacle shows we cant assume people wont use it as a chance to drive their agenda”

-- Tweet from White House Communications Director Dan Pfeiffer

President Obama wants Congress to quickly pass an unconditioned extension of the federal gasoline tax, which is set to expire at the end of the government’s fiscal year on Sept. 30.

The federal gas tax has been 18.4 cents per gallon since 1993 and generates more than $32 billion a year that is then mostly passed out to states for road construction and repair. About 15 percent goes to other federal efforts, like subsidizing public transportation or other efforts to discourage driving.