Fixing Americas Surface Transportation Act Opportunities for Private Sector Investment and P3s

The Fixing America’s Surface Transportation (FAST) Act, Pub. L. No. 114-94, reauthorizes surface transportation programs for five years, providing $305 billion over fiscal years 2016 to 2020. The FAST Act includes $225.2 billion for highways and $48.7 billion for transit programs. It continues nearly all of the highway and transit formula programs of MAP-21, and focuses much of the increase in highway funding on two new freight programs, one formula-based and one discretionary. The Act reestablishes the bus and bus facilities discretionary grant program, converts the Surface Transportation Program into a block grant, and builds on the environmental streamlining and project acceleration provisions of previous authorization bills. The text of the law can be found here.