Members of the U.S. House of Representative and Senate announced a deal on a 5-year highways spending bill, called Fixing America's Surface Transportation (FAST) Act, reports Roads & Bridges.
The bipartisan agreement provides roughly $205 billion on highways and $48 billion on transit projects over the next five years. The bill also includes a provision to revive the Export-Import Bank.
According to Roads & Bridges, a final vote will be required in both chambers to move the bill upward, and legislation is facing a federal funding expiration date of Dec. 4. Additionally, the U.S. Department of Transportation warned that it would stop making payments to state and local governments by Dec. 4.