The House voted 359-65 Thursday afternoon to pass the $305 billion, five-year transportation funding measure.
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The Senate is expected to give its final approval of the agreement in the next couple of days so the bill can head to President Obama’s desk for signature.
Sargent pointed out the deal increases the federal government’s annual spending on highway and transit programs. “We still need more, long-term, sustainable funding at the federal, state and local level for transportation, including an increase or replacement for the gas tax”.
The North Dakota Department of Transportation is “very excited” about the bill, having operated since 2005 on short-term funding extensions and continuing resolutions passed by Congress, said Steve Salwei, transportation programs director. The bill also provides $200 million to help railroads install the safety technology that could have prevented the accident.
“Now, we’ve got to do the hard work of making sure Missouri has the matching funds so they can pull down these important federal dollars for our roads and bridges”, said McCaskill. In addition, the FAST Act will transform the National Freight Policy provisions of the previous highway bill, MAP-21 into a new National Freight Program that will fund freight-related highway improvements.
Among the bill’s losers are large banks, which would receive lower dividends from the Federal Reserve, with the savings used for transportation programs. “Most importantly, this bill included my provision to extend I-11 through Northern Nevada”. “Increasing highway spending is not necessarily irresponsible, but it is when lawmakers provide only temporary funding to do so”. “The FAST Act has enormous support throughout the country from businesses and workers alike, and we are so pleased that it is now going to the President to be signed into law”.
“This bill is a big step forward and a desperately needed long-term investment in our nation’s infrastructure”, said Jay Timmons, CEO of the National Association of Manufacturers, echoing sentiments of business groups, who feel that the legislation will increase jobs in construction, improve freight delivery and streamline government regulations. Montana had 425 existing infrastructure projects that were at risk without federal support.
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In a letter to members Thursday, NSTA pointed out that the legislation renders moot a long-standing objective of the Federal Motor Carrier Safety Administration to raise minimum insurance limits placed on commercial vehicle operators. It also requires evaluation of options to enhance economic development and accessibility of Amtrak stations and their surrounding areas.
