House FY 2024 Spending Plan Fully Funds Highways; Cuts Transit

What happened: House GOP officials July 11 released their Fiscal Year (FY) 2024 transportation appropriations proposal that tracks authorized investment levels for the vast majority of highway and public transportation spending.

The bill proposes cuts to various programs supported by the federal General Fund, such as the transit Capital Investment Grants and the RAISE grant program that  advance a wide variety of multimodal improvements – including highways and bridges.

The legislation also includes policy revisions, including prohibiting funds for the California High-Speed Rail project, outlawing New York City’s congestion pricing plan, and banning the use of federal resources to implement the Biden administration’s proposed rule to track greenhouse gas emissions for highway projects.

Why it matters: The reductions are part of a push by House conservatives to cut federal spending beyond the levels agreed to as part of the negotiations earlier this year to raise the federal debt limit. It is important to recognize this is the first step toward finalizing FY 2024 transportation investment levels.

What’s next: The Democrat-led Senate is expected to release its bipartisan FY 2024 transportation spending bill the week of July 17. The deadline for completing the annual appropriations process is Sept. 30.