Obama’s 2012 budget proposes $556 billion for transportation
• The president is requesting $70.5 billion in FY 2012 to invest in our nation’s highways and bridges. This is a $29 billion increase over the FY 2010 enacted funding level. For highways and bridges, this represents the first-year of a six-year $336 billion proposal. The President’s request proposes to replace over 55 SAFETEA-LU highway programs with five core programs.
• “Up-front” $50 Billion Economic Boost: $27.65 billion funds an “Up-front” economic boost to the highway program intended to jump-start job creation and progress on highway and bridge projects. This amount is broken down as follows:
• $25 billion funds investment in critical highway infrastructure;
• $2.2 billion funds support of significant improvements at land ports of entry (LPOEs) facilities, which link directly to the transportation infrastructure at boarder crossing locations.
• $450 million funds the growing demand for highway credit assistance through the Transportation Infrastructure Finance and Innovation Act (TIFIA)
• The president’s proposal treats highways and all surface transportation spending as mandatory and funding will be subject to “PAYGO” provisions, to ensure spending does not exceed its dedicated revenue.
• Changes to the Highway Trust Fund (HTF): The president’s proposal will convert the current HTF into a new Transportation Trust Fund (TTF) with four accounts – one for highways, one for transit, one for high-speed passenger rail, and one for the National Infrastructure Bank. However, exiting revenues will continue to be dedicated to highways, highway safety, and transit programs.
• National Highway Program (NHP): $32 billion funds the new performance-based highway program, which targets investment to maintain roads critical to the national interest while also providing flexibility to the States for making transportation investment decisions on the larger system of Federal-aid eligible highways.
• Highway Infrastructure Performance Program: $16.8 billion funds a formula-based program designed to improve the infrastructure condition and performance on an expanded National Highway System. This 220,000-mile network includes the Interstate System, all principal arterials, intermodal connectors, and other roads important to mobility, commerce, national defense, and intermodal connectivity.