WASHINGTON, D.C. – March 31, 2015 – (RealEstateRama) — The Administration has released an updated version of its reauthorization proposal – the Generating Renewal, Opportunity, and Work with Accelerated Mobility, Efficiency, and Rebuilding of Infrastructure and Communities throughout America Act or the GROW AMERICA Act. This bill would provide $478 billion for a six-year reauthorization (just under $80 billion per year), paid for with the Administration’s proposal to collect taxes on corporate earnings that are currently parked overseas. This would be a substantial increase in annual federal spending on transportation, including a 79 percent increase in transit spending and a 29 percent increase in spending on highways and roads.
Many of the policy changes from last year’s proposal are related to the National Highway Traffic Safety Administration (NHTSA), including new provisions regarding vehicle recalls and tire defects. The bill would also create a Very Small Starts program as part of the FTA’s Capital Investment Program, to provide project funding for rural areas and smaller urban areas.