The Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety and Security held a hearing earlier this week to discuss the FAST Act and its impact on transportation infrastructure, safety and economic growth. Key stakeholders testified on the importance of the Act and the need for continued public private collaboration.
The ‘Fixing America’s Surface Transportation’ – or FAST – Act was approved late last year to provide long-term funding certainty for surface transportation infrastructure planning and investment. According to the US Department of Transportation, the Act authorizes $305 billion between 2016 and 2020 for a wide array of highway safety, public transportation, rail and technology programs, among others.
Specifically, the Act provides grant and loan programs for multimodal and other projects benefiting freight movement and eliminates inefficiencies for state and local governments seeking federal funding while also streamlining the permitting process for projects. The Act adds a number of efforts designed to increase transit and transportation safety, and allows Transit-Oriented Development expenses to be eligible for funding under highway and rail credit programs – as a means to increase transit ridership and to promote walkable, sustainable land use.
For more information regarding the hearing process, click here.
For more information about the FAST Act, visit the US Department of Transportation’s website here.