Yesterday, the Obama Administration released the Grow America Act proposal to finance and fund transportation infrastructure projects. The administration’s proposal is the first one out of the gate - both Houses of Congress are working on legislation that is expected to be released in the coming weeks. The collective goal (we hope) is to have a signed transportation bill before MAP-1 expires at the end of September.
The Grow America Act proposal includes several new elements that may make it through the legislative sausage making process. The proposal codifies the TIGER program and eliminates project minimums. It includes a new FAST program for transportation projects (based on Race to the Top) with a $50 million pay-out. It also includes a new Rapid Growth Area Transit competitive grant program and allows use of TIFIA fees for small projects.
If you are interested in reading the full text of the bill, click here for a link to the proposed legislation and here for a section-by-section review from the Administration.
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