The FAST Act legislation awaiting a Presidential signature at press time broadly maintains current federal investment in transportation infrastructure for the next five years. It reasserts environmental streamlining policies that were enacted by lawmakers years ago but for which regulations have not yet been written. It adopts a use-it-or-lose-it policy for Interstate toll demonstrations. It cuts TIFIA funding from $1 billion in the last fiscal year to $275 million in the current fy 2016 budget. And it doesn’t replenish the shrinking pot of Private Activity Bonds used by private developers to reduce their cost of borrowed funds for P3 project financings.
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