FHWA Reports Fiscal Year End Highway Trust Fund Balance, Stable through early 2022; Congress MUST Pass Bipartisan Infrastructure Bill for Program Stability

On October 20, the Federal Highway Administration released fiscal year end estimates on the Highway Trust Fund balance. Here are the fast facts:

• The trust fund finished FY 2021 with $21.1B cash-on-hand.
• The Congressional Budget Office forecasted a much lower number (in the range of $13B).
• As such, it is expected that the Highway Trust Fund will remain solvent through early 2022.
• This new projection eliminated the threat of more immediate insolvency (by early to mid-November) that was expected by Congress.

The House MUST immediately pass the Infrastructure Investment and Jobs Act to provide long-term funding stability to the highway trust fund, state owners, and the transportation construction industry. The extension of current law that was passed on October 2 expires on October 31. Continuing to hold out on passing this bill and will jeopardize funding stability and construction careers.