The U.S. Department of Transportation (DOT) is slated to receive approximately $105 billion as its portion of President Joseph R. Biden's fiscal year 2023 (FY 2023) budget, the DOT reported recently.
The President submitted the budget proposal to Congress March 28; the DOT reports that if the budget is approved, its total budget for FY 2023 would be $142 billion, including the $3 billion in Advanced Appropriations guaranteed by the Bipartisan Infrastructure Law (BIL).
"The investments in the President's Budget make traveling safer, easier, cleaner, and more affordable for the American people," Buttigieg said in March 28 announcement. "From roads, tunnels and bridges, to airport and port improvements, electric vehicle chargers, safe bike lanes and more, we are building a first-rate transportation system for all Americans."
DOT states it will use the combined funds to modernize the nation's infrastructure to improve safety and reliability; undertake long-needed maintenance to transportation arteries; provide transportation systems in historically underserved communities and rural areas; and create infrastructure that is resilient to climate change. These actions will create well-paying jobs and strengthen the economy, according to the DOT.
DOT states 2023 will be the second year BIL funding will allow the department to continue modernizing America's infrastructure and create safe, efficient transportation systems for years to come.
DOT released also its 2022-2026 Strategic Plan along with its FY 2023 Budget, the department stated in the announcement. The plan outlines how DOT will implement its "once-in-a-generation investment to create a transportation system that works for every American." Action items in the plan show how the DOT will use the funds to ease the movement of people and goods from one point to another while also creating safer roads, increasing equity and decreasing traffic emissions, DOT reports.
"The President’s budget makes critical investments in the American people that will help lay a stronger foundation for shared growth and prosperity for generations to come," the DOT states in the announcement.
