Feb 03, 2020
$760 Billion Infrastructure Funding Framework Introduced in the House
BY AsphaltPro Staff
A joint infrastructure funding framework issued on January 29 seeks to invest $760 billion over five years on the nation’s infrastructure, including roads, bridges, transit systems, railways, airports, ports, and more. The framework would authorize $319 billion for highway investments and $105 billion for transit systems within that $760 billion five-year funding plan.
The framework, put forth by three House of Representatives committee chairs (Rep. Peter DeFazio, D-Ore., chair of the Transportation and Infrastructure committee; Rep. Frank Pallone, D-N.J., chair of the Energy and Commerce committee; and Rep. Richard Neal, Ways and Means committee chair), aims to bring current infrastructure into a “state of good repair” and fund the completion of critical projects.
“It is our hope that the next step in this process results in a bipartisan transportation funding package; one that enacts a long-term, sustainable revenue solution for the Highway Trust Fund as well as increases and prioritize formula-based federal funding,” said Jim Tymon, executive director of the American Association of State Highway and Transportation Officials.