June 4, 2020 – The House has released the text of the “Investing in a New Vision for the Environment and Surface Transportation in America” (INVEST in America) Act. The legislation provides $494 billion over five years to make “transformative infrastructure investments in surface and rail transportation.” It would replace the FAST Act. It also:
- Provides $411 billion over five years out of the Highway Trust Fund for highway, transit, safety, and research programs, a 46% increase over current investment levels.
- Provides $319 billion for the Federal-aid highway program under the Federal Highway Administration, $105 billion for transit programs under the Federal Transit Administration, $5.3 billion for highway safety programs under the National Highway Traffic Safety Administration, $4.6 billion for motor carrier safety programs under the Federal Motor Carrier Safety Administration, and $60 billion for rail programs.
Other than a reference to the Highway Trust Fund, nothing specific is given on the “pay for.” The Highway Trust Fund obviously won’t pay for this amount of investment without a hike in the gas tax. More information will obviously be forthcoming. Stay tuned.