Instead, he wants to reach an agreement with Democrats on a framework or bridge that would postpone the cuts and tax-rate changes for one year until a broader deal on deficit reduction -- including entitlement and tax reform -- can be worked out.

CNN: STORY HIGHLIGHTS

"This is a really significant event and we need to learn from it, not just in Washington but around the country, " Hersman said after taking a boat ride on the Skagit River below the dramatic scene where a truck bumped against the steel framework, collapsing the bridge and sending two vehicles and three people falling into the chilly water.

NPR: NTSB Says Wash. Bridge Collapse Is Wake-Up Call

In Washington state this past week, a bridge collapsed when a truck driver's load bumped against the steel framework.

WSJ: Mo. highway buckles after rail cars hit overpass

Legislation significantly increased the public funds available for bank restructuring, and established a general framework for recapitalizing weak but solvent banks, as well as for dealing with insolvent banks through temporary nationalizations and bridge banks.

CNN: REFORM IS CRUCIAL