States Gear Up To Compete for Expanded DOT Loan Program

摘要

The newly enacted transportation bill gives a giant boost to a U.S. Dept. of Transportation loarrprogram for major highway and transit projects. The line is already starting to form for the loans, which could total more than $16 billion over the next two years. DOT's "bank" was created in 1998 by the Transportation Infrastructure Finance and Innovation Act (TIFIA) to provide loans and other credit assistance to help fund large projects. After relatively modest demand in TIFIA's first decade, interest took off in 2010. For 2012, DOT received 26 requests, totaling $13 billion, but had only about $1.1 billion to lend. It picked five projects to share that amount.