Transportation Spending Set Through Sept. 30

What happened: Congress finalized Fiscal Year (FY) 2024 transportation appropriations, maintaining funding levels authorized in the Infrastructure Investment and Jobs Act (IIJA), plus an additional $3.35 billion in supplemental multimodal investment.  Most of the supplemental investment will support community project funding, more commonly known as earmarks.

The spending agreement comes after months of short-term extensions.  The House March 6 passed the bill on an overwhelmingly bipartisan margin, and the Senate is expected to follow suit before the March 8 deadline. The Transportation Construction Coalition (TCC) co-chaired by ARTBA weighed in with all lawmakers in support of the bill.

ARTBA’s breakdown of FY 2024 funding:

Why it matters:   The spending bills demonstrate continued bipartisan congressional support for transportation programs. Having funding in place through Sept. 30 will give state departments of transportation the certainty they need to pursue previously planned long-term transportation improvements.

What’s next:  House and Senate appropriators will now begin work on FY 2025 transportation spending bills.  ARTBA will urge Congress to complete the transportation spending bill by the Sept. 30 deadline.