The five-year federal surface transportation authorization law, Fixing America’s Surface Transportation (FAST) Act, was enacted on December 4, 2015. The law increases investment in surface transportation. While the backbone of federal transportation funding is the motor fuels tax, with revenues deposited in the High Trust Fund, current funding increases were not due to a gas tax hike. Instead, the law relies on a variety of funding sources unrelated to transportation. The American Society of Civil Engineers (ASCE), a member organization of the Renewable Natural Resources Foundation, explores the FAST Act in detail in a series of blog posts. Visit the following links to read more on:
- Funding for the law and the future fiscal health of the Highway Trust Fund.
- Funding and policy changes to highway, transit, and federal passenger rail programs.
ASCE’s 2013 Infrastructure Report Card graded America’s infrastructure at a D+, with an estimated investment need of $3.6 trillion by 2020. The nation has a significant backlog of overdue maintenance across infrastructure systems and a pressing need for modernization.