Hurry Up and Wait. Reauthorization Could Slide into 2011

This article describes how, for cash-strapped state and local governments that have critical transportation infrastructure needs, but no money to pay for them, the coming year will be bittersweet. Federal aid from the American Recovery and Reinvestment Act (ARRA) and possibly another job-creation bill will provide some transportation funding relief to municipal bond issuers, and some high-profile grants are expected to be announced this winter. But it probably will be another year before Congress takes up new multi-year authorization bills for the sector, sources said in recent interviews. Governments and other muni bond issuers earlier this year began chasing ARRA funds after the new law was enacted in February, flooding the U.S. Department of Transportation and its various sub-agencies with applications for surface transportation and high-speed rail projects. The application pool was so large that states and cities face miniscule odds and are ­competing with their neighbors. But market and industry participants are now speculating that the ARRA initiatives may be models for, or springboards into, longer-term ­programs. Meanwhile, ­surface and air transportation groups have pushed for Congress to dedicate a large portion of funding in any new job-creation bill to transportation infrastructure.

Language

  • English

Media Info

  • Media Type: Print
  • Pagination: pp 34-35
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 01151231
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Feb 24 2010 3:51PM