Transportation Investment and Trust Act of 1990

Transportation Investment and Trust Act of 1990 - Title I: Highway Account Authorizations - Amends the Federal-Aid Highway Act of 1956 (the Act) to extend indefinitely the Interstate System program. Increases the FY 1993 authorization of appropriations for Interstate System construction.

Authorizes appropriations for FY 1992 for interstate substitute highway projects.

Amends the Federal-Aid Highway Act of 1987 to authorize appropriations for FY 1992 and 1993 for specified Federal-aid highways projects.

Increases the FY 1991 obligation ceiling for Federal-aid highways and highway safety construction programs. Sets forth the obligation ceiling for FY 1992 for such programs. Reauthorizes through FY 1992 the bridge and strategic highway research programs.

Title II: Mass Transit Account Authorizations - Amends the Urban Mass Transportation Act of 1964 to authorize appropriations out of the Mass Transit Account of the Highway Trust Fund for FY 1992 for urban mass transportation projects, including grants to States and local agencies for deployment of innovative methods in the operation of public transportation services, and grants and loans for special projects to meet the needs of the elderly and handicapped.

Title III: Airport and Airway Authorizations - Amends the Airport and Airway Improvement Act of 1982 to extend through September 30, 1992, projects for airport development and planning. Authorizes appropriations from the Airport and Airway Trust Fund for FY 1991 and 1992 for: (1) air navigation facilities; and (2) research, engineering and development, and demonstration projects.

Title IV: Deficit Calculation - Amends the Congressional Budget and Impoundment Control Act of 1974 to exclude the receipts and disbursements allocable to the transportation-related operations of the Highway Trust Fund (including the Mass Transit Account) and the Airport and Airway Trust Fund from calculations of maximum deficit amounts.