President Obama's Grow America Act, the administration’s proposal for MAP-21 reauthorization, is a four-year bill that calls for $302 billion in transportation investment. The bill proposes “business tax reforms” as the means to provide the revenue needed for the Highway Trust Fund to support increased funding levels.
See the the bill’s proposed funding levels in the table above.
The average annual increase for highways is 21 percent and the average annual increase for transit is 69 percent.
Other features in the 350-page measure proposal include:
- The Highway Trust Fund would be renamed the Transportation Trust Fund, with a new $19 billion rail account dedicated to rail programs. A second new account would be created for multi-modal projects. Both new accounts would be funded with transfers of general account revenue.
- The legislation would create a $10 billion initiative to improve the freight transportation network.
- The TIGER grant program would become permanent and funded at $1.25 billion per year.
- Current restrictions on levying tolls on interstate highways would be eliminated.
- An office within the U.S. Department of Transportation would be created to reduce permitting timelines for transportation project approval. A number of planning and permitting improvements are also included.
AGC’s CEO Stephen Sandherr issued a statement in support of the bill
