5-Year Highway Bill Passes Senate

December 4, 2015

The U.S. Senate approved a five-year, $305 billion highway bill sending it to the White House one day before highway funding was set to expire, reports Roads & Bridges.

The FAST Act will be funded by gas tax revenue and a $70 billion package sourced from other areas of the federal budget.

According to Roads & Bridges, the bill calls for spending approximately $205 billion on highways and $48 billion on transit projects over the next five years. It also reauthorizes the controversial Export-Import Bank’s expired charter until 2019.