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The Coalition for America’s Gateways and Trade Corridors (CAGTC) announced its support for the the proposed Surface Transportation Reauthorization Act of 2021, which was approved today in the U.S. Senate Committee on Environment and Public Works.
Included in the bipartisan bill are provisions that would help advance the state of the nation’s multimodal goods movement infrastructure, CAGTC officials said in a press release.
Notably, the bill would:
• increase INFRA/ Nationally Significant Freight and Highway Projects Program funding to $4.8 billion over five years. The current surface transportation law, known as the FAST Act, authorized the program at $4.5 billion over five years. Funds available to multimodal projects through this program increase significantly – from a cap of $500 million over five years to a cap of 30 percent of funding annually, or $1.44 billion. The proposal also calls for greater transparency measures in the grant decision making process.• increase freight formula program funding to $7.15 billion over five years. The FAST Act authorized the program at $6.3 billion over five years. The proposed legislation also would increase the percent of program funds that may be used for eligible multimodal projects from a 10% cap to a 30% cap, or $2.15 billion.
"As our national economy continues to reopen, much will be asked of our multimodal freight system. Sustained, dedicated investment that is commensurate with the infrastructure needs of our supply chain is critical to supporting our nation’s return to prosperity," CAGTC officials said.