This week, the House and Senate overwhelmingly approved a 5-year, $305 billion highway and transit reauthorization bill.  The Fixing America’s Surface Transportation (FAST) Act (http://transportation NULL.house NULL.gov/fast-act/) is the result of negotiations between House and Senate conferees charged with resolving differences between the House and Senate surface transportation reauthorization bills.  The FAST Act requires a transfer of $70 billion in general fund revenue to the Highway Trust Fund from a variety of sources.  Key provisions of the FAST Act include:

• A new formula program for highway freight projects
• A new grant program for large-scale projects, the Nationally Significant Freight and Highway Projects (NSFHP) program
• Modification of the National Highway Freight Network created by MAP-21 and a requirement that the network be re-designated every 5 years
• Expanded funding eligibility for on-system bridges located off the National Highway System
• An increase in the Surface Transportation Program (STP) suballocation to local governments from 50 to 55 percent
• The Transportation Alternatives Program (TAP) is rolled into STP; 50 percent of certain TAP funding suballocated to local areas can be used on any STP-eligible project
• A competitive grant program for bus and bus facilities funds is reinstated, including a 10 percent set-aside for rural areas

The President is expected to sign the FAST Act into law in the coming weeks.