Emergency Interstate Bridge Safety Fund Act - Repeals the Davis-Bacon Act (which requires that the locally prevailing wage rate be paid to various classes of laborers and mechanics working under federally-financed or federally-assisted contracts for construction, alteration, and repair of public buildings or public works).
Establishes in the Treasury an Emergency Interstate Bridge Safety Fund.
Directs the Secretary of the Treasury to transfer to the Fund regularly amounts equal to the savings achieved through this repeal from the capital budgets of each affected federal agency.
Directs the Secretary of Transportation (DOT) to compile a prioritized list of emergency interstate bridge projects on the federal-aid highway system meeting specified criteria (e.g., the bridge is deemed functionally obsolete). Authorizes the obligation of Fund amounts for such projects.