Grassley Releases Iowa's Share of Proposed Highway Funding
Sen. Chuck Grassley, chairman of the Committee on Finance, today praised the new proposed dollar amount of federal highway funding for Iowa over the next six years. Under a preliminary formula, Iowa would receive at least an additional $687.6 million for highways over the next six years.
"This is good news for Iowa," Grassley said. "Sometimes federal formulas have short-changed our state. This time, I'm in a leadership position to affect this program, and I'm doing everything I can to improve Iowa's highways with our fair share of funding. This is a preliminary estimate, but I'll continue to fight for increased funds for Iowa projects."
Congress is considering legislation to re-authorize the federal highway program for the next six years. Several committees have jurisdiction over parts of this program. Grassley's committee is in charge of determining how the government raises the money to pay for the highway program.
Today, Grassley obtained estimates from the Senate's Environment and Public Works Committee showing that Iowa would receive the $687.6 million increase under the formula agreed to by that committee.
According to today's estimates, Iowa would receive $1.98 billion over the next six years under the current highway funding formula. Under the new proposed formula, Iowa would receive $2.66 billion, an increase of $687.6 million over six years.
