Legislative Update – Transportation Bill FAST Act (Fixing America’s Surface Transportation Act) Five-year reauthorization with $305 billion in funding.

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Presentation transcript:

Legislative Update – Transportation Bill FAST Act (Fixing America’s Surface Transportation Act) Five-year reauthorization with $305 billion in funding ($56.2 billion/year average) Reauthorizes federal highway, transit, transportation safety and rail programs for federal fiscal years October 1, 2016 through September 30, 2020

Legislative Update – FAST Act Facilitates commerce and the movement of goods, (i.e. Freight) by creating: 1.) National Highway Freight Network program funded from the Highway Trust Fund Average of $1.2 billion per year that is distributed to the States by formula based on the highway miles that a state has of the federal freight network. 2.) Nationally Significant Freight and Highway Projects Program A discretionary grant program (very competitive) designed for major highway and freight projects. Funded at $4.5 billion over the five years.

Legislative Update – FAST Act What do these two new programs mean for the Brent Spence Bridge? Good news that there are two pots of money from which the BSB could secure funds. We are in essence, the poster child for the Nationally Significantly Freight and Highway Projects Program Bad news is, we still need a lot of local money to make-up our portion of its $2.6 billion price tag, even if the Feds kick in 20% ($520 million), which is unlikely… We need a unified voice regarding Funding and we need to get our delegation to rally around this project even more than they have in the past.