The Senate Environment and Public Works Committee (EPW) on May 13 released a transportation bill (S. 2322) that would reauthorize current transportation law for six years at current funding levels plus inflation.
Under S. 2322, spending on federal-aid highway programs would grow from $38.4 billion in 2015 to $42.6 billion in 2020.
Unlike the President’s “Grow America Act,” the Senate’s S. 2322 does not contain language that would allow states to toll existing interstates to generate highway revenues.
The full EPW Committee is scheduled May 15 to consider changes to the proposal and approve the measure for Senate consideration.
Of special interest to the transportation industry, S. 2322 would establish a formula-based freight program that would provide funds to all states to improve goods movements in key corridors. The bill also would expand flexibility for both rural and urban areas to designate key freight corridors that match regional goods movement on roads beyond the Primary Freight Highway Network.
The Obama Administration in late April unveiled transportation legislation that would boost revenues for the dwindling Highway Trust Fund through corporate tax reform in conjunction with expanded tolling of existing interstates and private infrastructure financing.
Current transportation law, MAP-21, expires on Sept. 30. The highway trust fund is projected to run out of funds this summer.
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