U.S. Transportation Secretary Anthony Foxx praised the Obama administration’s vision for transportation as outlined in his $90.9 billion budget requested for the U.S. DOT. These funds will lay a new foundation for economic growth and competitiveness by addressing our growing infrastructure deficit, investing in our national infrastructure network, increasing safety and efficiency, and providing greater access to ladders of opportunity.
“President Obama has offered the kind of aggressive transportation budget our country needs—one that replenishes the Highway Trust Fund today while also helping ensure the country has a safe, efficient transportation system for tomorrow,” said Foxx. “These funds will do everything from helping communities tackle their transportation to-do lists to improving access to ladders of opportunity. And we will do everything at the Department of Transportation to make this budget a reality, including sending a bill to Congress to support it.”
The centerpiece of the president’s FY 2015 budget for the U.S. DOT is a four-year, $302 billion surface transportation reauthorization proposal that will improve America’s highways and transit networks, continue building on the U.S. DOT’s overall safety record, while also ensuring a stable funding source for rail. The proposed budget would be paid for with $150 billion from transition revenue generated from business tax reforms, along with current revenues from the gas tax.
In order to tackle the nation’s growing infrastructure deficit and improve quality of life, the four-year, $302 billion budget includes $199 billion to rebuild America’s roads and bridges. The budget provides $72 billion to help meet the growing demand for transit, in addition to $19 billion to create and improve passenger rail service and $6.7 billion for safety enhancements.