TRG | The Bottom Line – 5/29

Having just released their highway reauthorization bill, BUILD America 250, the House T&I Committee wasted little time putting the bill to a vote. With overwhelming support, 66-2, the bill passed and is expected to soon head to the House floor for a full vote. TRG reached out to several contacts, government officials and industry participants, to gauge pros and cons of the bill and better understand next steps. In an undeniably polar political environment, a few commented on the broad bi-partisan support the bill received. “This is a politically savvy bill,” stated one source.
 
The House T&I bill is a solid step forward in the highway reauthorization process. The committee’s ability to thread the needle satisfying varied member interests in today’s political climate is challenging. Contact feedback suggests the path to least resistance could even be an increase to funding in a final bill. Although some may point to funding that doesn’t keep up with inflation, we believe it’s worth noting aggregate-specific formula funded programs are up 13.1% vs. IIJA and up 42% over the FAST Act that expired in 2020. We believe the bill shows incredible support for continued infrastructure/transportation spending from Congress – especially given the amount of debt needed for funding.

What do state DOTs think? Stay tuned for feedback from the field as TRG hosts its Texas Field Trip – June 17 & 18 – where we will meet with key DOT decision makers and heavy materials producers.