Transportation Spending Seeing Big Increase in New Budget

Biden Administration officials are set to appear before a number of different Congressional committees in the immediate weeks to come to argue in favor of increased funding for highway, transit, and airport construction and upgrade projects.

The Congressional pitch comes as the federal Department of Transportation announces that just under $70 billion is expected to be available in funding for fiscal year 2023, up from last year’s $52.5 billion.

In a statement, Pete Buttigieg, Transportation Secretary, said the funding is designed to “make traveling safer, easier, cleaner, and more affordable for the American people.”

The Secretary added: “From roads, tunnels and bridges to airport and port improvements, electric vehicle chargers, safe bike lanes and more, we are building a first-rate transportation system for all Americans.”

Biden, meanwhile, has asked that overall transportation funding be increased by 2% in the next fiscal year in order to meet the goals of the big Infrastructure Investment and Jobs Act approved late last year by Congress.

During recent appropriation cycles, supplemental spending has increased for any number of highway, transit, and airport capital construction projects at or above earlier authorized funding levels.

Additional funding is expected to target the upgrading of more than 15,000 small bridge projects, redesigning main streets in rural areas, and building a network of around half a million electronic vehicle charging stations in the next 7 years.

Congressional members will also be asked to approve up to $4 billion for the National Infrastructure Investments grants program which is designed to support multiple-mode transportation projects.

Legislative negotiators hope to put together a spending bill well in advance of the official beginning of the 2023 fiscal year, which starts on October 1.

By Garry Boulard

No Responses

Your comment will be posted after it is approved.

Leave a Reply

Get stories like these right to your inbox. ​Sign up for our newsletter
Archives
Construction Reporter

Show Password Forgot Password?