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AFF Transportation Bonds Support Infrastructure, Jobs

on March 10, 2014


According to estimates from the Federal Highway Administration, local governments invested $53 billion in highway programs raised from local revenue sources, yet that amount does not come close to meeting the needs for investment in roads, transit, bridges, waterways and airports.

While Congress debates the renewal of a national surface transportation program and how to pay for it, local leaders continue to find ways to begin to meet the funding gap. The federal-local partnership is vital to local initiatives and provide local governments with new financing tools.

Among the most effective reforms included in the last surface transportation bill – MAP-21 – was a dramatic increase in funding for a low-interest federal financing tool known as the “Transportation Infrastructure Finance and Innovation Act” (TIFIA) program. President Obama requested that TIFIA funding be expanded to $1 billion in FY 2015 so the program can continue to successfully bolster the financial plans…

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