/ Financial / Federal Highway Administration Announces $15 Million in Grants for Alternative Revenue Approaches

Federal Highway Administration Announces $15 Million in Grants for Alternative Revenue Approaches

Matt Ball on March 25, 2016 - in Financial

WASHINGTON – The U.S. Department of Transportation’s Federal Highway Administration today announced $15 million in grants for states under a new program to test alternative revenue mechanisms to help sustain the long-term solvency of the Highway Trust Fund.

“What is clear is that more investment in transportation is necessary to prepare for increasing strain on the system in the upcoming decades,” said U.S. Transportation Secretary Anthony Foxx. “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.”

The Surface Transportation System Funding Alternatives (STSFA) grant program will fund projects to test the design, implementation and acceptance of user-based alternative revenue mechanisms.

“This program may help us identify new sources of revenue to make sure our transportation infrastructure remains strong,” said Federal Highway Administrator Gregory Nadeau.  “Now is the time to begin finding new funding solutions to be ready for the expanded travel needs of a growing population.”

STSFA was established under the “Fixing America’s Surface Transportation” Act.  The grants are only available to states or groups of states.

The currently available Notice of Funding Opportunity available today represents the first solicitation for the STSFA.   http://www.fhwa.dot.gov/fastact/funding.cfm

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