Dive Brief:

• President Obama, using the Tappan Zee Bridge over New York's Hudson River as a backdrop, said he will accelerate permitting for construction projects and urge Congress to act on the Highway Transportation Fund before it runs out of money.
• Obama touted the Tappan Zee Bridge project as a good example. Federal officials approved the bridge in 18 months rather than the typical three to five years, and also approved a $1.6 billion low-interest loan for the $4 billion project.
• The president laid out lofty goals, including job creation and keeping the U.S. competitive in the world. “First-class infrastructure attracts first-class jobs,” he said.

Dive Insight:

Obama held up, figuratively, the 60-year-old Tappan Zee as an example of important infrastructure that needs to be rebuilt. But many infrastructure projects will depend on the Highway Transportation Fund that will run dry for any new work later this year. Various proposals to pour capital into the fund are currently in play. Some states depend on federal aid for more than half of their highway budgets.