This afternoon the House took up HR 3038 under a closed rule (limited debate, no amendments) and then passed the bill by a strangely bipartisan vote of 312 to 119. As we have been seeing this session it this was a vote of the moderates against the party wings with more Republicans than Democrats voting against the bill.
The current highway funding program stops on July 31st when the extension provided by HR 2353 (Public Law No: 114-21) runs out. The Senate may still try to get a multi-year funding bill passed by that date; the Senate Commerce, Science, and Transportation Committee marked up a portion of that legislation (S 1732) today, but once that bill is combined with other committee efforts it will take some time to get it through the floor amendment process.
Even HR 3038 will probably get amended in the Senate if it is brought to the floor. The Hill is reporting that it would get an Export-Import Bank rider attached to it. That would bring out the conservative opposition with Sen. Cruz (R,TX) already threatening a filibuster.
Something will be passed by midnight on July 31st. It just is not clear if it will be this bill.