Time is money, and that has never been truer now that the U.S. Congress has adjourned for its summer recess.

“I've never seen anything like this, nobody ever has, it’s never happened before, it's totally tied up in partisan politics,” said John Schalliol, Director of the South Bend Airport Authority.

While lawmakers finished the debt ceiling debate before the deadline, they didn’t come close to acting in time to stop the financial bleeding at the FAA or Federal Aviation Administration.

“I can't believe they're leaving town but they are leaving town,” said Schalliol.

For those who use the South Bend Regional Airport today it was business as usual; for those who run the airport, panic was setting in.

Congress failed to reauthorize the bill that funds the FAA meaning that the agency is no longer able to collect a seven and a half percent tax on the base price of airline tickets that goes a long way in funding airport improvements across the nation.

“That money hasn't been collected for the 11 days (since the old measure expired on July 22nd) that amounts right now to a little over $300-million (in lost revenue). The airlines have seen fit to raise their prices to capture that what had been taxed, that seven and a half percent and that's going into the airline pockets today. Now the airlines need the money, I don't argue with that, but the airports need it too,” Schalliol said.

The ticket tax revenues have been tapped in the past for the ongoing terminal expansion project at the South Bend Regional Airport.

Given the amount of time Congress has been unable to resolve its FAA differences, the situation flies in the face of everything Schalliol and others know about responsible management.

“The federal aviation administrations basic legislation that. that funds it, expired in 2007. Since that time, Congress has passed 20 extensions of that bill, the last extension, the 20th expired a week ago Friday,” Schalliol said.

By the time Congress returns from its summer Break in September, the amount of lost ticket tax revenue should be in the range of $2 billion.

In the wake of the funding crisis, the FAA has furloughed 4,000 workers nationwide and issued stop orders on more than 200 airport construction projects across the nation.

Neither the furloughs or stop work orders have impacted operations in South Bend.