A uesful link to keep on top of cycling-related legislation is: https://scout.sunlightfoundation.com/
Search for a term (any term, doesn't have to be cycling related) and you can set up notifications when related legislation (on the Hill or in State bodies) comes up.
You can set up the notification specifics: Email, RSS, etc.
However, I'm not sure if CMAQ funding is affected by this transportation bill. If this is the case, then the transportation bill is only a moderate setback for bike infrastructure funding.
The League of American Bicyclists and WABA provide updates on key cycling/transportation bills. I usually get info from their Facebook feeds as well as their email newsletters.