By Rich Juliano, senior vice president, strategic initiatives, ARTBA
A group of 31 national associations, coalitions and unions November 13 called on House-Senate surface transportation bill conferees to maximize investment in the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. TIFIA provides federal credit assistance in the form of direct loans, loan guarantees, and standby lines of credit to finance surface transportation projects of national and regional significance. It is considered a key mechanism for financing public private partnerships (P3s) in transportation and providing certainty to the P3 market
While MAP-21 authorized the TIFIA program at $1 billion per year under MAP-21, the House reauthorization bill would set annual TIFIA investment at $200 million, and the Senate counterpart at $300 million. ARTBA co-led the drafting and circulation of the group letter asking conferees to fund TIFIA at the minimum of the Senate level, and preferably higher.
For more information on P3 issues and ARTBA’s P3 Division, contact Rich Juliano.