The FAA Reauthorization Act of 2024 will provide increased funding for runway and taxiway construction.

On Wednesday, May 15, the U.S. House of Representatives passed the Federal Aviation Administration (FAA) Reauthorization Act of 2024 and President Biden is expected to sign it into law. The bill will provide the FAA with funding for the next five years and includes several wins for the construction industry.

The bill will provide a much-needed boost to the Airport Improvement Program (AIP), which funds airport runway and taxiway construction, from $3.35 billion to $4 billion per year. The bill will also allow airports to incorporate price adjustment clauses in AIP projects to account for labor or material cost increases, something they were previously not allowed to do.

AGC appreciates the House and Senate leadership for their commitment to doing this in a bipartisan fashion.

Contact Deniz Mustafa or Alex Etchen for more information.