WASHINGTON, D.C. — Debate could begin as soon as this week in the U.S. Senate on a proposed six-year federal highway funding bill that includes three years of guaranteed funding for the Highway Trust Fund.

The proposal comes ahead of the expiration of the latest short-term extension for federal road funding on July 31.

Senate Majority Leader Mitch McConnell (R-Kentucky) announced a tentative agreement, struck with Senator Barbara Boxer (D-California,) the ranking Democrat on the U.S. Senate Environment and Public Works Committee, on Tuesday.

There were not enough votes to begin debate immediately on the more than 1,000-page proposed DRIVE Act, standing for Developing a Reliable and Innovative Vision for the Economy Act, which McConnell said would be fully offset with spending reductions or changes to federal programs and does not increase the deficit or raise taxes.

U.S. Senator Shelley Moore Capito (R-W.Va.) is a supporter.

“I’m satisfied that this is going to address the deficits we have in our bridges. It will help us complete Corridor H, Route 35, it’ll take us to Coalfields Expressway and King Coal Highway, some of these incomplete projects that really need big boosts of money and, also I think, put a lot of people to work,” Capito said on Wednesday’s MetroNews “Talkline.”

Revenues from the federal gas tax falls about $10 billion short of the funds needed within the Highway Trust Fund each year, according to federal officials.

For more on how the bill would be funded with the Senate proposal, click here.

The U.S. House has passed a much different version of the highway bill, worth $8 billion, which would extend funding for transportation programs through Dec. 18.

Because of the differences, a short-term funding bill could be approved until the long-term bill can be addressed fully after the August recess for members of the U.S. Senate and U.S. House.

Since 2009, Congress has been passing a string of temporary road funding extensions along with additional emergency road funding. McConnell said the long-term bill would give state and local governments “the certainty and stability” necessary for road investments.

“This is our first chance in a long time to get a multi-year bill. We need to seize the opportunity,” Capito said.