Highway & Street Construction Spending Over Time

Investment in America’s roadways skyrocketed in recent years

Source: Construction Coverage analysis of U.S. Census Bureau data | Image Credit: Construction Coverage

The passage of the Infrastructure Investment and Jobs Act came at a critical time. After adjusting for inflation, highway and street construction spending had largely stagnated for much of the previous decade. From 2010 to 2021, real spending hovered around $120 billion annually with little sustained growth—despite persistent infrastructure needs across the country.

The new federal investment helped reverse that trend. In constant 2026 dollars, annual spending surged from about $120 billion in mid-2022 to averaging nearly $150 billion through 2025 and into early 2026, providing renewed capacity to address long-standing maintenance backlogs and advance long-term transportation projects.