Oct 01, 2020
Congress Passes One-Year FAST Act Extension
Today, the Senate-approved a one-year extension for the FAST Act, the current surface transportation authorization law, which was set to expire on September 30. The highway program provision was attached to a continuing resolution (CR) to fund the federal government through December 11.
Senate passage now sends the legislation to President Trump for his expected signature, as the House-approved the CR last week.
The FAST Act extension also includes $13.6 billion to maintain the Highway Trust Fund’s solvency at current funding levels ($47.1 billion for highway programs and $12.3 billion for transit programs) through the fiscal year 2021. This extension will provide much-needed funding certainty to state and local governments navigating significant revenue shortfalls due to the COVID-19 pandemic.
“While a one-year extension of the FAST Act isn’t the multiyear surface transportation bill the equipment industry was hoping for, in the current political environment, it’s a win,” said AED’s President & CEO Brian P. McGuire. “AED members from across the country participated in our unprecedented grassroots campaign, and Congress’ action demonstrates the effort’s success. Lawmakers heard loud and clear that short-term doesn’t work when it comes to the Highway Trust Fund, and the industry needed a longer-term solution with additional funding to ensure critical road and bridge projects continue well into next year.”