Dive summary:
- When the MAP:-21 legislation became law, it included huge increases in the ability of the federal government to loan money to states and to back their borrowing – from $122 million a year previously to $750 million this fiscal year and $1 billion in the year that begins Oct. 1.
- Those guarantees are made under the Transportation Infrastructure Finance and Innovation Act (TIFIA), and it was given a high priority in MAP-21.
- However, Granite Construction President and CEO James H. Roberts told the senators on behalf of Associated General Contractors, there is a gap between the legislation and reality.
From the article:
[Environment and Public Works] Committee Chair Barbara Boxer (D-Calif.) and ranking member David Vitter (R-La.) agreed to send a letter to DOT suggesting improvements in the process that would expedite the approval process. ...