House Transportation Chair Sam Graves (R-Mo.) has pinpointed April 29 as the critical date for marking up the anticipated surface transportation reauthorization bill. The bill, which could command between $500 and $550 billion, is currently under negotiation, Graves revealed in a discussion with POLITICO on Wednesday.

Although a precise topline funding amount is still up for grabs, Graves provided a rough estimate. "I’m gonna say it’s gonna be somewhere in the neighborhood of $550 billion or $500 billion — somewhere in there. That will be our number. We’re still actually — believe it or not — negotiating that," he explained.

The discussed sum of $550 billion for what is commonly referred to as the highway bill would cover authorizations and contract authority across a span of five years. This figure, if finalized, would mark a significant reduction from the 2021 bipartisan infrastructure law, which totaled $1.2 trillion. Of that, $550 billion was earmarked for new federal spending on various infrastructure projects including roads, bridges, and broadband. Graves has indicated a desire for the upcoming bill to revert to a more traditional focus, primarily enhancing roads and bridges.

Graves is also in active discussions with the committee's ranking member, Rick Larsen (D-Wash.), who reportedly is pushing for a higher funding amount. Peter True, a spokesperson for Larsen, confirmed that Larsen advocates for a figure exceeding $550 billion.

A notable element in the upcoming surface bill is the inclusion of a registration fee for electric vehicles (EVs), a priority for Graves. He successfully pushed for a $250 registration fee for EVs and $100 for hybrids in the House version of last year's GOP-led budget reconciliation bill, although these provisions did not become law. This time, the EV registration fee will be adjusted. "We lowered it a little bit," stated Graves, without disclosing the specific amount.

The fate of the hybrid car registration fee remains uncertain. "We're not sure yet, but yes, probably," Graves said, indicating that further details are still being ironed out.

As the markup date approaches and negotiations continue, stakeholders from various sectors are keenly watching how these financial deliberations will ultimately shape the nation's infrastructure and environmental policies.