Highway, Street & Bridge Construction NAICS 237310

Jun 17, 2026 - House Committee Issues Transportation Funding Proposal

• According to Engineering News-Record, leaders of the House Transportation and Infrastructure Committee released a roughly $580 billion proposal, the BUILD America 250 Act, to guide federal transportation investment through fiscal 2031 after the 2021 Infrastructure Investment and Jobs Act (IIJA) expires. The bill emphasizes formula funding, with more than 90% of highway funds distributed that way, aiming to speed project delivery and give states greater flexibility. Industry groups support the predictability but question whether it preserves IIJA-era funding certainty. About $474.4 billion would come from Highway Trust Fund authority, while $106 billion would rely on future appropriations, according to analysis by law firm Holland & Knight. The proposal would also eliminate some climate programs, add fees on electric vehicles, and raise review thresholds to streamline approvals, while economists caution that private financing cannot replace sustained federal spending.
• According to Construction Dive, Ferrovial Construction sees growing opportunities for alternative project delivery methods as infrastructure demand outpaces public funding. Pepe Baraja, Ferrovial's CEO for the US and Canada, said the company’s new $1.47 billion design-build contract for the Grand Parkway Segment B-1 southeast of Houston reflects increasing pressure on agencies to accelerate transportation projects despite budget constraints. Baraja said that design-build contracts and public-private partnerships can create long-term value by aligning builders’ responsibilities with asset performance. At the same time, population growth in Sun Belt markets continues to drive demand for large-scale transportation infrastructure.

• North American construction and engineering spending for roadway projects is expected to remain flat in 2026 after declining about 1% in 2025, according to FMI’s second-quarter 2026 North American Engineering and Construction Outlook. Highway and street construction activity will continue as funding through the Infrastructure Investment and Jobs Act matures, with completions offsetting fewer new project starts. Federal highway funding remains elevated at about $56.8 billion, supporting ongoing work, particularly in bridge construction, where spending has increased about 10% year over year. However, uncertainty surrounding surface transportation reauthorization before the end of fiscal 2026 in September creates risk for future funding levels. Rising diesel, asphalt, and steel costs are also pressuring margins, complicating project execution.
• State transportation departments are launching major construction seasons in 2026, with spending focused on highways, bridges, and multimodal infrastructure across several states, according to Construction Dive. Minnesota plans more than 200 road and bridge projects, along with 51 multimodal efforts, totaling hundreds of millions of dollars. Ohio is leading in scale, allocating $3.4 billion to 977 projects, including bridge repairs and roadway improvements. Texas is advancing multibillion-dollar highway expansions and mobility upgrades, highlighted by a $4.5 billion interstate initiative. Utah has outlined $2.8 billion for 176 new projects, emphasizing highway improvements, transit, and pedestrian infrastructure. Wisconsin is undertaking more than 400 projects, including major highway expansions and reconstructions valued in the billions. Across states, investment is concentrated on improving safety, expanding capacity, and modernizing transportation networks.