The Fixing America's Surface Transportation Act or the FAST Act is a funding and authorization bill to govern United States federal surface transportation spending. It was passed by Congress on December 3, 2015, and President Barack Obama signed it on the following day.[1][2] The vote was 359–65 in the House of Representatives and 83–16 in the United States Senate.[1][3]
Fixing America's Surface Transportation Act
Long title
An act to authorize funds for Federal-aid highways, highway safety programs, and transit programs, and for other purposes
Reported by the joint conference committee on December 3, 2015; agreed to by the House on December 3, 2015 (359-65) and by the Senate on December 3, 2015 (83-16)
Signed into law by President Barack Obama on December 4, 2015
The bill was introduced to the House by Rodney Davis (R‑IL) as the "Hire More Heroes Act of 2015" on January 6, 2015. The $305 billion, five-year bill is funded without increasing transportation user fees.[4] (The federal gas tax was last raised in 1993.[5]) Instead, funds were generated through changes to passport rules, Federal Reserve Bank dividends, and privatized tax collection.[1]
In Section 6021, Congress asked the Transportation Research Board (TRB) to conduct a study of the actions needed to upgrade and restore the Interstate Highway System to fulfill its role as a crucial national asset, serving the needs of people, cities and towns, businesses, and the military while remaining the safest highway network in the country. The subsequent 2019 report, "Renewing the National Commitment to the Interstate Highway System: A Foundation for the Future," recommended actions Congress could take.[6]
The Act also includes several revisions to federal securities law, including Section 76001 of the Act. This provision creates a new Section 4(a)(7) of the Securities Act of 1933, a new exemption from registration under that act intended to facilitate secondary trading of private company securities among accredited investors. By doing so, Congress and the President hoped to support smaller, nonpublic companies with their capital raising efforts by providing more liquidity for their securities, with reduced regulatory burdens.[10][11]
References
^ abcLaing, Keith; Carney, Jordain (December 3, 2015). "Senate sends $305B highway bill to Obama". The Hill. Retrieved December 4, 2015.
^ abLaing, Keith (December 4, 2015). "Obama signs $305B highway bill". The Hill. Retrieved December 4, 2015.
^Frittelli, John (December 14, 2018). Federal Freight Policy: In Brief(PDF). Washington, DC: Congressional Research Service. Retrieved December 22, 2018.
^"5-Year, $300 Billion "FAST Act" Will Extend Transpo Policy Status Quo to 2020". Streetsblog USA. December 2, 2015. Retrieved August 25, 2021.
^"When did the Federal Government begin collecting the gas tax? - Ask the Rambler - Highway History". Federal Highway Administration. Retrieved August 25, 2021.
^Renewing the National Commitment to the Interstate Highway System: A Foundation for the Future. National Academies of Sciences, Engineering, and Medicine. December 6, 2018.
^"Highway bill has some farm help too". Farm Futures. December 4, 2015. Retrieved December 4, 2015.[permanent dead link]
^Carter, Zach (December 1, 2015). "Congress Is About To Hand This Bank A Ridiculous Gift". The Huffington Post. Retrieved December 4, 2015.
^"114th Congress Public Law 94". govinfo. U.S. Government Publishing Office. Retrieved August 25, 2021.
^David Lynn; Anna Pinedo (December 7, 2015). "FAST Forward: A Summary of the Securities Law Provisions of the FAST Act (client alert)" (PDF). MOFO Jumpstarter. Morrison Foerster. Retrieved January 21, 2016.
^SecondMarket. "Secondary Trading Markets" (PDF). Securities and Exchange Commission. Retrieved January 21, 2016.
External links
Fixing America’s Surface Transportation Act as amended (PDF/details) in the GPO Statute Compilations collection
Fixing America’s Surface Transportation Act as enacted (PDF) in the US Statutes at Large
This United States federal legislation article is a stub. You can help Wikipedia by expanding it.
fixing, america, surface, transportation, fast, redirects, here, california, fast, food, labor, california, fast, recovery, fast, funding, authorization, bill, govern, united, states, federal, surface, transportation, spending, passed, congress, december, 2015. FAST Act redirects here For California s fast food labor law see California FAST Recovery Act The Fixing America s Surface Transportation Act or the FAST Act is a funding and authorization bill to govern United States federal surface transportation spending It was passed by Congress on December 3 2015 and President Barack Obama signed it on the following day 1 2 The vote was 359 65 in the House of Representatives and 83 16 in the United States Senate 1 3 Fixing America s Surface Transportation ActLong titleAn act to authorize funds for Federal aid highways highway safety programs and transit programs and for other purposesAcronyms colloquial FAST ActEnacted bythe 114th United States CongressEffectiveDecember 4 2015CitationsPublic lawPub L 114 94 text PDF Statutes at Large129 Stat 1312CodificationActs amendedSecurities Act of 1933Titles amended23 U S C HighwaysLegislative historyIntroduced in the House as Hire More Heroes Act of 2015 22 by Rodney Davis R IL on January 6 2015Passed the House on January 6 2015 unanimous consent 412 0 Passed the Senate on July 30 2015 65 34 Reported by the joint conference committee on December 3 2015 agreed to by the House on December 3 2015 359 65 and by the Senate on December 3 2015 83 16 Signed into law by President Barack Obama on December 4 2015 Contents 1 History 2 Transportation provisions 3 Unrelated provisions 4 References 5 External linksHistory EditThe bill was introduced to the House by Rodney Davis R IL as the Hire More Heroes Act of 2015 on January 6 2015 The 305 billion five year bill is funded without increasing transportation user fees 4 The federal gas tax was last raised in 1993 5 Instead funds were generated through changes to passport rules Federal Reserve Bank dividends and privatized tax collection 1 In Section 6021 Congress asked the Transportation Research Board TRB to conduct a study of the actions needed to upgrade and restore the Interstate Highway System to fulfill its role as a crucial national asset serving the needs of people cities and towns businesses and the military while remaining the safest highway network in the country The subsequent 2019 report Renewing the National Commitment to the Interstate Highway System A Foundation for the Future recommended actions Congress could take 6 Transportation provisions EditThe Act requires a reanalysis of the costs and benefits of electronically controlled pneumatic brakes Unrelated provisions EditThis law authorizes the Export Import Bank of the United States through 2019 2 New crop insurance funding is approved 7 Emigrant Savings Bank would have been exempted from certain provisions of the Dodd Frank Wall Street Reform and Consumer Protection Act 8 This was not included in the final bill that was passed into law 9 The Act also includes several revisions to federal securities law including Section 76001 of the Act This provision creates a new Section 4 a 7 of the Securities Act of 1933 a new exemption from registration under that act intended to facilitate secondary trading of private company securities among accredited investors By doing so Congress and the President hoped to support smaller nonpublic companies with their capital raising efforts by providing more liquidity for their securities with reduced regulatory burdens 10 11 References Edit a b c Laing Keith Carney Jordain December 3 2015 Senate sends 305B highway bill to Obama The Hill Retrieved December 4 2015 a b Laing Keith December 4 2015 Obama signs 305B highway bill The Hill Retrieved December 4 2015 Frittelli John December 14 2018 Federal Freight Policy In Brief PDF Washington DC Congressional Research Service Retrieved December 22 2018 5 Year 300 Billion FAST Act Will Extend Transpo Policy Status Quo to 2020 Streetsblog USA December 2 2015 Retrieved August 25 2021 When did the Federal Government begin collecting the gas tax Ask the Rambler Highway History Federal Highway Administration Retrieved August 25 2021 Renewing the National Commitment to the Interstate Highway System A Foundation for the Future National Academies of Sciences Engineering and Medicine December 6 2018 Highway bill has some farm help too Farm Futures December 4 2015 Retrieved December 4 2015 permanent dead link Carter Zach December 1 2015 Congress Is About To Hand This Bank A Ridiculous Gift The Huffington Post Retrieved December 4 2015 114th Congress Public Law 94 govinfo U S Government Publishing Office Retrieved August 25 2021 David Lynn Anna Pinedo December 7 2015 FAST Forward A Summary of the Securities Law Provisions of the FAST Act client alert PDF MOFO Jumpstarter Morrison Foerster Retrieved January 21 2016 SecondMarket Secondary Trading Markets PDF Securities and Exchange Commission Retrieved January 21 2016 External links EditFixing America s Surface Transportation Act as amended PDF details in the GPO Statute Compilations collection Fixing America s Surface Transportation Act as enacted PDF in the US Statutes at Large This United States federal legislation article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Fixing America 27s Surface Transportation Act amp oldid 1159532160, wikipedia, wiki, book, books, library,
