In early December, Congress passed the Fixing America’s Transportation Act (FAST ACT) with bipartisan support. The legislation provides funding to improve surface transportation infrastructure, including roads, bridges, transit systems and passenger rail network. The bill will provide $305 billion in funding over the next five years. This is the first long-term transportation bill in a decade.
The bill will largely hold funding at current levels for the next five years. To fund transportation, the bill reauthorized the 18.4 cents per gallon gas tax, utilized funds through the Federal Reserve’s surplus account, and through “pay-fors” – such as changes to custom fees and passport rules for applicants who have delinquent taxes.
$205 billion will be spent on highways, while $48 billion will go towards other transit projects.
Without the legislation, transportation spending would have expired on December 4.