The Senate has passed the “Infrastructure Investment and Jobs Act” by a vote of 69 to 30. While only 60 votes were required, 19 Republicans joined 50 Democrats in approving the proposal that includes $550 billion in new spending for roads, bridges, and other infrastructure. In addition to more traditional infrastructure improvements, the bill also allocates billions of dollars to electric vehicles, upgrade the nation’s power grid and improve access to broadband internet.
The bill provides $106.9 billion for public transit, an increase of $41.1 billion (63 percent) from current levels. It provides $69.9 billion of contract authority and increases each of the formula and competitive grant programs by 35-37 percent compared to current levels. It also provides $15 billion of General Fund authorizations for CIG grants and $750 million for WMATA over the five-year period.
According to The Bus Coalition, the breakdown comparisons include:
- Transit Increased 43%/83% Above Baseline: The transit title sees an increase of 43% above baseline levels for contract authority, for $69.9 billion over the next five years. When combined with the supplemental appropriations for transit, the package provides an 83% increase for transit funding compared to FAST Act levels.
- 172% Increase in 5339 Funding: Funding for the 5339 program increases by 172% from $808 million to $2.2 billion.
- 5339b Grants Preserved and Increased : Annual authorized funding increases by 43% (stays available for bus replacement for all fuel sources).
- Low/No Increase and Set-aside: The bill provides over $1 billion per year for the 5339c Low/No program, and requires at least 25% of all Low/No grants go to “low emission projects” (CNG, RNG, etc.).
The impact on Missouri Formula Funding as prepared by the Senate Committee on Banking, Housing, and Urban Affairs.
The bill now goes to the House where the current timetable for action is unclear right now.