A bill pending in the U.S. Senate would recast the Railroad Rehabilitation and Improvement Financing Program (or “RRIF”)—the federal credit support program administered by the Federal Railroad Administration—as a TIFIA-like tool for advancing railroad project financings, including P3-delivery of commuter rail projects. But provisions in the bill that prioritize positive train control projects for loans under RRIF may invite significant competition for access to the program.