On December 3, Congress released its compromised version of the Water Resources Development Act (WRDA) of 2024. The bipartisan WRDA 2024 bill will help ensure that the U.S. Army Corps of Engineers (USACE) Civil Works Program is appropriately responsive to the water resources needs identified by local communities. Specifically, the bill authorizes 200 feasibility studies and the construction of 21 water resource projects. WRDA 2024 invests in our harbors and inland waterways, which helps to ensure construction materials make it to the jobsite in a timely manner. The water infrastructure bill permanently adjusts the inland waterways cost-share for construction and major rehabilitation projects to 75% general revenues/25% Inland Waterways Trust Fund (IWTF). The bill also adds “Water Supply” as a key USACE mission area.
The WRDA 2024 bill also contains the Fiscally Responsible Highway Funding Act of 2024, which will redistribute unobligated funds under the Transportation Infrastructure Finance and Innovation Act (TIFIA) program to states via the highway formula programs. By doing so, Congress can ensure that the resources provided for TIFIA can be used to address more pressing infrastructure needs. This will initially provide an extra $1.8B to states via formula, which will help rebuild the nation’s roads and bridges.
AGC applauds Congress for the bipartisan efforts to develop the water infrastructure bill.
For more information, contact Jordan Howard.