The Fiscally Responsible Highway Funding Act of 2024 redirects $1.8 billion in unused federal transportation funding to state highway and transportation projects. The bill takes money from an underutilized federal credit assistance program called TIFIA and distributes it directly to all fifty states and the District of Columbia based on each state's share of regular highway funding. Additionally, the bill requires the federal government to redirect 75 percent of any unused TIFIA funding in fiscal years 2025 and 2026 to states for surface transportation work. All distributed funds must be used for eligible highway and transportation purposes and remain available for states to spend until 2028 or 2029, depending on the funding year. The bill's supporters argue this approach gets federal money into productive use for roads and infrastructure projects rather than letting it sit unused in federal accounts.
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