A partial press release is provided below. The text of the legislation can be found here.
DRIVE ACT MODERNIZES AMERICA’S INFRASTRUCTURE,
Bipartisan Legislation Provides State, Local Governments Certainty For Multi-Year Transportation Investments
WASHINGTON – The bipartisan, multi-year Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act would help modernize the nation’s infrastructure and transportation systems to better allow America to compete in the 21st century.
The DRIVE Act gives state and local government the certainty, flexibility and stability to better develop the country’s transportation and public transit infrastructure, while improving railroad and highway safety.
The bill reverses the trend of short-term, temporary fixes to fund the nation’s transportation network. These “patches” have left states and localities without the certainty they need to plan and build long-term infrastructure projects.
The DRIVE Act is a six-year highway authorization that will allow planning for important long-term projects around the country, and provides three years of guaranteed funding for the highway trust fund.
The bill is fully offset with spending reductions or changes to federal programs. It does not increase the deficit or raise taxes.
This bipartisan legislation is comprised of four main components that were principally negotiated by the four committees of jurisdiction, including the Environment & Public Works, Commerce, Banking, Homeland Security/Governmental Affairs and Finance committees.
The text of the legislation can be found HERE. ...