Mississippi Keeps Federal Funding

*Press Release*

Jackson, Miss. – Today, the U.S. Senate passed the “Fixing America’s Surface Transportation Act” or FAST Act. Mississippi’s funding will remain at current levels.

Passage of the FAST Act marks the first time in a decade that Congress has approved a long-term surface transportation authorization that gives state departments of transportation the certainty to plan and implement significant investments in the nation’s aging infrastructure. The FAST Act will reauthorize the federal highway and public transportation programs for fiscal years (FY) 2016-2020 and stabilize the Highway Trust Fund (HTF) during that five-year period.

“We greatly appreciate the support of our Congressional delegation, the U.S. Department of Transportation and the Federal Highway Administration,” said Mississippi Department of Transportation (MDOT) Executive Director Melinda McGrath. “The passing of the FAST Act means Mississippi’s current funding is guaranteed at approximately the same level for another five years.”

The FAST Act, which will provide approximately $300 billion over five years, continues to distribute more than 90 percent of federal highway funding to State DOTs through formulas and maintains the current Federal-aid Highway program structure. The FAST Act also includes important environmental streamlining provisions that have the potential to speed up project delivery, saving time and taxpayer money.

The FAST Act includes $225.2 billion from the HTF for highway investment, a $20.2 billion increase over five years compared to FY 2015 funding. Of this, $207.4 billion will be apportioned among the states by a formula set by Congress. States use these funds for highway, bridge and freight improvement projects.

The FAST Act is a step forward in continued transportation funding. Mississippi will receive approximately $2.5 billion over the next five years, but there is no increase in funding. The FAST Act should offset some of the construction inflation incurred since 2009 by increasing formula funds to states by 5 percent in 2016 and approximately 2 percent per year after to rise with inflation.

“Although MDOT is extremely appreciative to Congress for passing a bill which guarantees five years of funding that stabilizes the program, this level of funding will not expedite the current backlog of projects needed to expand capacity in Mississippi,” said McGrath.

The FAST Act also provides funding for public transit programs and transportation alternative programs, which support a variety of pedestrian, bicycling and environmental activities. In addition, the FAST Act will transform the National Freight Policy provisions of the previous highway bill, MAP-21 into a new National Freight Program that will fund freight-related highway improvements.

The major benefit of the FAST Act is that it allows MDOT to realistically plan for the next five years as they are guaranteed funding at the national level. This is a positive for the traveling public and Mississippi’s economy.

For more information, visit GoMDOT.com.