Allard wins big boost in federal highway funding
A member of the Senate Environment and Public Works Committee, Allard said the state’s funding is being increased by the pending re-authorization of the Transportation Equity Act of the 21st Century, also known as TEA-21.
The formula released by the committee gives Colorado almost an additional $1 billion over the next six years for highway construction, Allard said.
“This is great news for Colorado. Under the Senate formula, Colorado would receive a greater increase in highway funding than any other state,” Allard said. “This is money that Colorado desperately needs to handle the transportation needs of our growing population. It will pave the way for economic growth at a crucial time in our state’s history.”
The Senate formula translates into a 95 percent return on Coloradans’ federal highway taxes by 2009, up from the current 90 percent, Allard said.
“The 46.5-percent increase comes on the heels of the 54 percent that I secured in the 1998 re-authorization,” he noted.
Allard said the funding plan gives Colorado the authority to determine where the state’s federal highway dollars can best be spent.
The funding formula will provide Colorado with an additional $190 million a year for six years on top of the current $300 million a year, on average, the state receives now.