NASBP Focal Point – June 23, 2026

Federal Report

Federal: NASBP recently signed on in support of the Building Unrivaled Infrastructure and Long-term Development (BUILD) America 250 Act, which authorizes $580 billion for highways, highway safety, transit, and rail programs over fiscal year 2027 through FY 2031, with $474.4 billion provided as Highway Trust Fund (HTF) contract authority. As reported in the May 26 edition of Focal Point, the House Transportation and Infrastructure Committee passed the BUILD Act by a vote of 62-2 on May 22. The letter of support for the bill – spearheaded by the Associated General Contractors of America, stressed that BUILD America 250 Act would “deliver long-term funding certainty for highway, transit and safety improvements, while delivering policy reforms to ensure funds are put to use quickly and effectively.” With just a little more than a month before the August recess, key lawmakers are contemplating what a final surface reauthorization bill extension will look like. The Chair of the Senate Environment and Public Works (EPW) Committee, Shelley Moore Capito (R-WV), has been adamant that she wants to get the surface transportation bill done before the September 30 deadline.

Yesterday, the Senate passed H.R. 6644 (the 21st Century ROAD to Housing Act) by a large bipartisan vote of 85-5. The legislation aims to increase housing supply, lower consumer costs, boost the national housing supply and cut regulatory red tape. The House is expected to take action soon for final passage.

Senate Agriculture Committee Chair, John Boozman (R-AR), plans to introduce a discussion draft of the Farm bill spending package next week. Chairman Boozman will need some support from the Democrats in order for the package to clear the 60-vote threshold on the Senate floor. Democrats will not lend their support unless the package includes language to delay the implementation that forces some states to fund a portion of the Supplemental Nutrition Assistance Program (SNAP) benefits. The Chairman is seeking to mark up the legislation between the July 4 and August recess. The Senate’s version will likely be similar to the House package which passed in April and received support from 12 Democrats.

State Report

NASBP will continue to monitor state activity throughout the remainder of the year. As we go to press, there are currently 12 states in session. Please contact NASBP if you are aware of legislation and/or proposed regulations in your state that may impact the surety industry.

VT H.944 (Transportation Committee) Amends 19 V.S.A. § 10 by waiving and/or increasing statutory bond threshold requirements for VTDOT projects from $100,000 to $250,000. H.944 is a comprehensive spending bill that establishes Vermont’s Transportation Program for FY2027 and enacts a range of changes to transportation-related laws such as updates to state highway and bridge standards, inspection, and an extension of public-private partnership (P3) authority for transportation projects to 2029. NASBP sent a letter to the House and Senate Transportation Committees in opposition to the bill. H.944 passed the House 84-46 and was amended in the Senate but the House refused to concur. House and Senate conferees were appointed to reach an agreement. 

On May 26, the House and Senate conferees agreed to final language which included raising and/or waiving statutory bonding requirements as referenced above in 19 V.S.A. § 10, for VTDOT contracts. The House adopted the Committee Report on May 29 and was signed by the governor on June 18.

If you are aware of any bills impacting the industry, please reach out to Larry LeClair, NASBP’s Director of Government Relations, and let us know.