Senators Propose Transportation Investment Fund
Two Senate Democrats introduced a bill that would leverage federal dollars to improve America’s transportation infrastructure, creating a $5 billion fund to encourage private investment in transportation projects. Introduced by Sen. Jay Rockefeller, D-W. Va., and Sen. Frank Lautenberg, D-N.J., the bill would use loans, loan guarantees and other tools to help fund eligible transportation projects. Those include everything from rail lines and marine ports to highways and public transportation, according to a release about the bill. The bill also proposes a $600 billion National Infrastructure Investment Grant program within the Department of Transportation. Read the full text of the bill here.
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In a release, Lautenberg said the bill will spur economic development and create a new way to increase investment in projects to expand rail capacity, like the Gateway Tunnel, as well as projects to "modernize our ports and other infrastructure to meet the growing demands of the 21st Century."