Highway & Bridge Construction Market Update Alison Premo Black, PhD ARTBA Senior VP & Chief Economist ARTBA Federal Issues Program May 9, 2016 ARTBA Federal Legislative and Regulatory Update Nick Goldstein Vice President, Regulatory and Legal Issues November 7, 2019
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Highway & Bridge Construction Market
UpdateAlison Premo Black, PhD
ARTBA Senior VP & Chief Economist
ARTBA Federal Issues ProgramMay 9, 2016
ARTBA Federal Legislative and
Regulatory UpdateNick Goldstein Vice President,
Regulatory and Legal Issues
November 7, 2019
Federal Agenda
• Appropriations
• Surface Reauthorization Bill
• Infrastructure Package
FY 2020 Appropriations
• Continuing Resolution at FY 2019 Levels through Nov. 21
• House Passed Highway Funding - $48.1 Billion– $1.75 billion above FAST Act Authorized Levels– $400 million less than FY 2019
• Senate Passed Highway Funding - $49.05• $2.7 billion above FAST Act Authorized Levels• $550 million above FY 2019
Federal Highway Program Obligation Limitation Under FAST Act, Annual Appropriations and Senate ATIA Proposal
Additional Funding Through Appropriations Short-Term Extensions and Funding
Source: FHWA final notices for annual highway program obligations.
Reauthorization & FAST Act
Senate ATIA Proposal
Source: ARTBA analysis of FHWA Highway Statistics data, total ten year average 2006-2015 from tables SF-1 and SF-2. The percent is the ratio of federal aid reimbursements to the state and total state capital outlays and is indicative of the importance of the federal aid program to state capital spending for highways and bridges. Does not include local capital spending. Federal highway reimbursements are primarily used for capital outlays, including construction, right of way and engineering, but are also used for debt service for GARVEE bonds.
* States that have issued GARVEE bonds before 2014.
81%*
34%
52%
63%*
68%*
91%*
72%
58%
61%*
74%*
86%*
61%*
70%
42%
49%
57%*
34%
65%
56%
71%
51%
39%
42%
63%
42%*
68%
65%*
71%*
58%*
49%
44%
71%
47%*
71%*
36%
49%*
60%*
60%*
43%
HI80%
78%
VT80%
CT67%
RI97%*
DE48%*
NJ28%*
MD41%*
DC54%*
NH52%*
50 to 69% of state highway & bridge capital outlays
MA41%
51%
Over 69% of state highway & bridge capital outlays
28 to 49% of state highway & bridge capital outlays
Federal funds, on average, provide 51% of annual State DOT capital outlays for highway & bridge projects