Americas Construction Materials Multi-Year Transportation Funding Bill Proposed by Congress Earlier This Week; Total Funding Largely in Line with Expectations

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Americas Construction Materials Multi-Year Transportation Funding Bill Proposed by Congress Earlier This Week; Total Funding Largely in Line with Expectations

J P M O R G A N North America Equity Research

22 May 2026

Americas Construction Materials

Multi-Year Transportation Funding Bill Proposed by

Congress Earlier This Week; Total Funding Largely in

Line with Expectations

Yesterday, the House Transportation and Infrastructure Committee approved the Americas Construction Materials

ACBUILD America 250 Act (BA250), which now has to go before three other Adrian E Huerta

committees in the House and then before the full legislative body. According to (52-81) 8152-8720

ARTBA, House Speaker Mike Johnson hopes to consider the bill in June but we adrian.huerta@jpmorgan.com

still view the likelihood of the bill passing ahead of the mid-term elections as 50/50 J.P.MorganMorganGrupoCasaFinancierode Bolsa, S.A. de C.V., J.P.

given the ongoing conflict in Iran and other bills being considered by Congress

Garrett Greenblatt

ahead of the August recess. As for the bill itself, the BA250 is a five‑year, ~$580 (1-212) 622-0424

bn surface transportation reauthorization proposal for fiscal years 2027–2031 garrett.greenblatt@jpmorgan.com

that rebalances federal transportation policy toward highways and bridges, J.P. Morgan Securities LLC

modestly supports transit, and places most rail funding at the mercy of annual

appropriations. This total transportation spending is largely in line with

expectations that were in the range of $550-650 bn, and should provide solid

support to infra spending over the next five years which is further supported by

~50% of IIJA funds not yet paid out and strong mid-SD growth in state DOT

budgets.