DOT’s Proposed 2024 Budget: Investing in the Safety and Efficiency of the Supply Chain

The White House recently unveiled it’s fiscal 2024 DOT budged aimed at increasing safety across U.S. Highways while modernizing freight infrastructure and combating climate change. The $6.9 trillion budget proposal was delivered to Congress on March 9^th. The outlined blueprint allocated funds for important initiatives such as enhanced freight connectivity programs, climate-focused policies, environmental justice reform, and cutting-edge technologies with the goal of improving transit systems across America.

“The budget reflects our values as a nation — a nation of good people, growing in a new age of possibilities and standing as a beacon to the world. Together, let us put those values into practice and prove that democracy delivers as we keep building a stronger, fairer economy that leaves no one behind,” President Joe Biden said in a statement that accompanied the budget request.

In a move to address the staggering number of highway fatalities in 2021, President Biden has requested over $1.3 billion for the National Highway Traffic Safety Administration and an additional $230 million for port infrastructure development as part of his budget proposal. This funding plan comes on top of investments authorized last year through America’s Infrastructure Investment and Jobs Act which set aside more than one trillion dollars towards key transportation corridors with hopes to reduce traffic fatalities across our nation by promoting safety protocols along highways and supply chains.

The budget proposal set aside a large portion of its funds to support public transit, totaling $14 billion in grants for operations alone. An additional investment was made towards rail safety and major infrastructure projects with an allocation of $1.5 billion and $1.2 respectively.

Overall, the White House would be making a significant investment in transportation, requesting $108.1 billion for the DOT through both discretionary and contract funding.

“This year’s budget comes at a critical moment for our country and a time when the president’s economic strategy is working,” Office of Management and Budget Director Shalanda Young said March 9. “The economy has added 12 million jobs. The unemployment rate has fallen to the lowest level in more than 50 years. And we just had the two strongest years for new small-business applications on record.”

Per background from the White House, the fiscal 2024 request “continues to complement and support the president’s historic bipartisan infrastructure law, which would strengthen the nation’s transportation system by tackling large infrastructure projects; improving roadway and pedestrian safety; providing more resilient and sustainable transportation options; expanding the nation’s capacity to move goods quickly and helping communities address critical transportation challenges.”

Despite Democratic backing, President Biden’s budget proposal faces an uphill battle in Congress. Republican leaders have come out strongly against the president’s funding request, vowing to fight it every step of the way across both chambers.

“President Joe Biden’s budget is a reckless proposal doubling down on the same far-left spending policies that have led to record inflation and our current debt crisis,” Speaker Kevin McCarthy (R-Calif.), Majority Leader Steve Scalise (R-La.), Majority Whip Tom Emmer (R-Minn.) and Republican Conference Chairwoman Elise Stefanik (R-N.Y.) said in a joint statement March 9.

GOP leaders took aim at the country’s debt obligations.

“We must cut wasteful government spending. Our debt is one of the greatest threats to America, and the time to address this crisis is now,” they said. “Yet, President Biden is proposing out-of-control spending and delaying debt negotiations, following his pattern of shrugging and ignoring when faced with a crisis.”

Sen. John Barrasso (R-Wyo.), a member of his caucus’ leadership team, argued that the budget “reveals how out of touch [Biden] is with families in Wyoming and across the country. This president wants to raise taxes on hardworking families so he can fund his reckless, radical spending.”

“Democrats’ reckless spending spree sent costs to a 40-year high. Record-high prices for gas and groceries have made it harder for families to keep up. Now, Joe Biden wants to spend even more. Instead of lowering costs, the president is raising taxes,” he added.

Source: ttnews