Fixing America's Surface Transportation Act - "FAST Act"
The Fixing American’s Surface Transportation (FAST) Act (PDF) is a five-year surface transportation law that provides long-term funding certainty for federal fiscal years 2016-2020. It is the first federal transportation bill enacted in over ten years that provides long-term funding for infrastructure planning and investment. Minnesota will receive over $4 billion in funding over the five-year period. The law is preceded by MAP-21, SAFETEA-LU, Tea-21, and ISTEA.
The FAST Act is funded through the Highway Trust Fund (HTF), which is funded by the federal motor fuels tax. The tax has not been increased since 1993. Since 2008, Congress has transferred funds from non-transportation resources to the HTF in order to meet the needs of transportation outlays. The FAST Act continues this approach and relies on $70 billion in offsets from other areas of the federal budget. While the FAST Act provides five years of funding certainty, the fund will be insolvent at the end of the five year period.