The collapse of the Francis Scott Key Bridge in Baltimore has led to the closure of the critical Port of Baltimore, requiring an extensive interagency effort and significant federal funding to rebuild the bridge and reopen the port. President Biden has promised full federal support, urgently opening up funding for debris removal and eventual reconstruction. While the cost of rebuilding remains unknown, the Federal Highway Administration Emergency fund may provide initial funding, with the possibility of the bipartisan infrastructure law offering additional resources.
Transportation Secretary Pete Buttigieg emphasized the commitment to providing all necessary federal resources to aid in Maryland’s recovery and the rebuilding of the bridge. Efforts are underway to assess the damage and determine the cost and timeline for rebuilding, with examples such as the I-35W Mississippi River bridge collapse in Minnesota and the I-95 overpass collapse in Philadelphia providing a precedent for federal response on this scale. The process of rebuilding the bridge is expected to be complex and time-consuming due to its location over a working waterway port.
Funding from the bipartisan infrastructure law, as well as potential insurance payments and Covid relief package resources, may assist in the reconstruction efforts. Treasury Secretary Janet Yellen mentioned the availability of funds from the infrastructure law and insurance payments. It is unclear if any party could be held financially responsible for the collapse, with investigations ongoing into the ship’s power issues. Congress may need to pass additional funding to support the rebuilding efforts.
Despite potential challenges in passing supplemental spending bills, there may be an appetite in Congress to fund reconstruction efforts for the Key Bridge. Declarations of federal emergencies could streamline the process by relaxing regulations and contracting rules. Maryland Governor Wes Moore has already declared a state of emergency, with the possibility of requesting a federal emergency declaration. Sen. Chris Van Hollen has expressed readiness to provide federal resources once the funding needs are determined by the state.
Prior to the collapse, the Key Bridge was rated in fair condition and had not requested bipartisan infrastructure law funding. The overall cost and timeline for rebuilding remain uncertain, with detailed assessments and coordination between federal and state agencies underway. The federal government is committed to working towards returning the Port of Baltimore to operational status and reconstructing the Francis Scott Key Bridge as quickly as possible.
