In 2021, approximately $53 billion in highway formula funds were made available to states. The DOT FY 2023 budget includes $68.9 billion for the Federal Highway program, representing a $19.8 billion increase from the 2021 enacted level. ARTBA reports that in 2021, states leveraged $31.4 billion in federal funds for federally supported projects. Included were those projects covered by formula funds, discretionary grants, COVID relief funds and supplemental appropriations for years 2018 to 2021. The $52.5 billion earmarked for FY 2022 is an increase of more than 20 percent over 2021 for federal highway apportionments. Through IIJA’s implementation, the Department of Transportation and FHWA believe the apportionments, additional Highway Infrastructure Program monies, and grants will address critical safety and performance needs of America’s roads, bridges and highways.
https://www.constructionequipmentguide.com/touching-the-surface-federal-highway-bridge-funds-steadily-increase-due-to-iija/56272