The Fixing America’s Surface Transportation (FAST) Act was signed into law on December 4, 2015. The act authorizes surface transportation programs through 2020 and provides $281 billion in contract authority. The FAST Act also provides $275 million to $300 million per year for the Transportation Infrastructure Finance and Innovation Act (TIFIA). However, the Congressional Budget Office (CBO) has also pointed out the Act did not create any new revenue sources from transportation users. During the CBO’s January presentation on the FAST Act, it was projected that, under the FAST Act, both the highway and transit accounts of the Highway Trust Fund will be unable to meet all obligations in 2021.
