By Anne L. Kim and Niels Lesniewski, CQ Staff

The Senate cleared a bipartisan agreement for a two-year reauthorization of highway, public transit and other surface transportation programs on Friday that included an extension of current student loan rates and a flood insurance reauthorization.

The vote was 74-19 to clear the measure for President Obama’s signature. The House adopted the conference report for the legislation (HR 4348) just minutes earlier, 373-52. Republicans cast the “nay” votes in both chambers.

Earlier this week, Senate leaders agreed to pay for the $6.2 billion student loan fix and supplement Highway Trust Fund receipts with two pension-related changes and a reduction of the time that college students are eligible for in-school interest subsidies on their loans.