This is the longest federal highway bill in 17 years, which provides stability and certainty – and is a more efficient use of taxpayer dollars.
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Transportation advocates applauded lawmakers for the votes to approve the measure by wide margins in both chambers, which came with just one day to spare before the scheduled expiration of the nation’s road and transit spending on Friday.
But transportation lobbyist Laurie Maudlin said the additional funding will give the state only a little more than 10 percent of the $1 billion the Build Indiana Council estimates is needed in additional funding each year to adequately maintain state and local roads.
The tax hasn’t been increased since 1993 and hasn’t kept pace with construction demands because of inflation and more fuel-efficient cars.
“It is a tremendous relief to know that with the FAST Act, state departments of transportation will have some reasonable long-term certainty regarding the levels of federal investments for surface transportation”, said Paul Trombino, AASHTO president and Iowa Department of Transportation director.
The legislation now goes to President Barack Obama to be signed into law.
“We’re happy to see the federal government recognize the need for extra funding for New York’s infrastructure, ” Heather Briccetti, president and CEO of the Business Council of New York State, said in a statement.
Rep. Kevin Cramer, a Republican, noted the bill also contains $70 million in offsets which, when combined with interest accrued on the Highway Trust Fund, will keep it solvent through fiscal year 2020.
“Strengthening our transportation network is vital to boosting economic growth, creating jobs, and increasing competitiveness in Missouri, and across the nation”, Blunt said. It puts an end to years of inaction that have stalled critical highway and bridge projects, including some in Mississippi.
A big shortcoming in the bill, though, is how it’s all financed. My preference for funding transportation bills is for highway users to pay for improvements to the highways, which is the course I hope Congress will take on future bills. Jim Inhofe (R-Okla.) and Barbara Boxer (D-Calif.) said in a joint statement.
Among the bill’s losers are large banks, which would receive lower dividends from the Federal Reserve, with the savings used for transportation programs. Industry officials said the government’s methodology is unfair.
The FAST Act also provides for a “small” increase in funding the Transportation Alternative Program, or STP Setaside, the new name for the sub-program of the Safe Routes to School Surface Transportation Program.
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The bill also includes provisions to reduce the regulatory burdens associated with the National Environmental Protection Act (NEPA) process for infrastructure projects.
