Congress approved $1.98 billion for federal bridge and highway improvements in March, as part of the fiscal year 2018 transportation appropriations package.
The funds will be distributed through the 2015 Fixing America’s Surface Transportation (FAST) Act’s Surface Transportation Block Grant Program. The funds are in addition to the $900 million FAST Act increase.
States have until Sept. 30, 2021, to commit their share of the funds to projects. How the funds are used and how quickly they are used has a direct impact on the economy.
If the entire amount were committed this year, it would result in a $600 million boost, according to the American Road and Transportation Builders Association economic model projections. The majority of the funds would be spent from 2019 to 2021.
In addition to all the funds being under contract by Dec. 31, the projection also assumes states and the District of Columbia are able to provide the required state matching funds and are able to use the money this year.
Also available in the appropriations bill is $1.55 billion in new funding for the Transportation Investment Generating Economic Recovery Grant program, the Federal Lands program and bridge projects in rural areas. The majority of the funds will be available next year.