FHWA releases $60B to states, funds 3 new programs | Dump Trucks Charlotte NC

Columbus Ohio Dump Truck Company Brief:

• The Federal Highway Administration on Tuesday announced that it released $59.9 billion to 12 programs to help address the nation’s crumbling infrastructure, according to an agency press release. The funding comes from the $1.2 trillion Infrastructure Investment and Jobs Act.
• The infrastructure law, signed last year by President Joe Biden, provides $550 billion over the next five years to support critical infrastructure efforts like revamping roads and bridges, carbon emission reduction and safety improvements.
• The FHWA’s nearly $60 billion allocation, to be split among all 50 states plus Washington, D.C., and Puerto Rico, is a $15 billion increase over 2021. The newly released funds are formula grants, which means the money flows to recipients based on formulas set by Congress.

Dump Trucks Columbus OH Insight:

The Biden administration has focused not only on traditional infrastructure, but also items like broadband internet and climate resilience measures. In addition to supporting long-standing programs like the Bridge Formula Program, three new ones will also be funded next year, according to Tuesday’s announcement:

• The Carbon Reduction Program aims to boost projects designed to reduce transportation emissions, such as public transit, bikeways and walkways. 
• The Promoting Resilient Operations for Transformative, Efficient and Cost-Saving Transportation Formula Program aims to help make surface transportation more resilient to extreme weather and other natural hazards.
• The National Electric Vehicle Infrastructure Formula Program aims to create a reliable national network of EV chargers.

The allocation of funding by state and program can be viewed at the FHWA’s infrastructure act funding web page, organized by fiscal year.