The Federal Highway Administration, an agency of the U.S. Department of Transportation (USDOT), recently made $15 million in grants available under a new program to test alternative revenue sources in an effort to help preserve Highway Trust Fund solvency.
U.S. Transportation Secretary Anthony Foxx said the grants are available through the Surface Transportation System Funding Alternatives (STSFA) initiative, the goal of which is to determine whether alternative revenue-producing programs might keep Highway Trust Fund coffers at a comfortable level.
“What is clear is that more investment in transportation is necessary to prepare for increasing strain on the system in the upcoming decades,” Foxx said. “A reliable funding source is at the heart of a robust surface transportation system so commuters can get to their jobs, businesses can run their operations and freight shippers can move their goods.”
To be eligible for STSFA grants, the project proposal must be tied to user-based alternative revenue mechanisms. The program is part of the federal Fixing America’s Surface Transportation (FAST) Act.
Individual states or groups of states may apply.
“This program may help us identify new sources of revenue to make sure our transportation infrastructure remains strong,” Federal Highway Administrator Gregory Nadeau said. “Now is the time to begin finding new funding solutions to be ready for the expanded travel needs of a growing population.”
For more information, log on to www.fhwa.dot.gov/fastact/funding.cfm.
