U.S. Machinery & Construction / Public Policy: B250: A Floor on Funding, Not on Growth; Surface Transport Reauthorization Thoughts

研报英文原文证据摘录

U.S. Machinery & Construction / Public Policy: B250: A Floor on Funding, Not on Growth; Surface Transport Reauthorization Thoughts

Equity Research

29 May 2026

U.S. Machinery & Construction / Public Policy

B250: A Floor on Funding, Not on

Growth; Surface Transport

U.S. Machinery & ConstructionReauthorization Thoughts

POSITIVE

Policy momentum exists in Congress but Senate still TBD; a U.S. Machinery & Construction

Adam Seiden, CFAshort-term extension still likely. Funding is flat vs IIJA, all-in,

with a shift toward formula funds but weaker real growth. +1adam.seiden@barclays.com212 526 2212

Highways (~+7 to 10%) support LSD+ volumes alongside BCI, US

lingering IIJA spend. We analyze the bill & its future. Vraj Patel

+1 212 526 2773

vraj.patel1@barclays.com

BCI, US

Tyler Russell

+1 212 526 7584

THE 2026 EXTEL SURVEY IS NOW OPEN tyler.russell@barclays.com

Support our industry-leading analysts with 5-Star

Public Policy

votes in this year’s Extel All-America Research Michael McLean(v)

Survey +1michael.mclean@barclays.com212 526 9393

Vote Now View Analysts

The Build America 250 Act (B250) is the likely “floor-  Barclays Build America 250

bid” for the next surface transportation Presentation - Seiden

reauthorization. In a 35+ page presentation included with

Machinery, Engineering,

this note, we outline our view on the policy and politics as Construction, Aggregates & Policy

it relates to the bill and our coverage. We go through these

thoughts and more in an ~1 hour webinar here.

Policy Path: The bipartisan House surface transportation bill (B250) passed out of House T&I

Committee by a vote of 62 to 2, with intentions of holding a floor vote by July. The Senate is

earlier in their own process, and a reauthorization is behind other matters, including

reconciliation.