July 2024

Preparing Transportation for Federal Insolvency

Robert W.Poole Jr. Director of Transportation Policy, Reason Foundation

Many transportation organizations seem to be assuming that the federal funding levels of the IIJA legislation will be the new baseline in the 2026 reauthorization of the Highway Trust Fund. For example, the American Society of Civil Engineers recently put out a report claiming that not renewing IIJA would cost the U.S. economy $637 billion in worse infrastructure. For the past year, ARTBA’s magazine has featured articles about projects funded by IIJA grants.

But at the annual ARTBA P3 conference in July, senior staffers from both the House and Senate appropriations committees expressed doubt that this would happen—surprising many of the attendees. Contrary to the views of many transportation colleagues, I was cheered by this prediction, and here is why.

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