Duckworth, McCormick Introduce Bill to Expand Transportation Financing

WASHINGTON — U.S. Sens. Tammy Duckworth of Illinois and Dave McCormick of Pennsylvania introduced bipartisan legislation to expand a federal financing program that helps state and local governments pay for transportation projects through public private partnerships. The proposal would raise the national cap on private activity bonds from $30 billion to $45 billion, allow the bonds to pay for buses, rail cars and ferries, and expand eligibility for passenger rail projects operating at speeds of at least 110 miles per hour. Duckworth said the bill would help communities complete road, transit and rail projects more quickly, while supporters said it would increase access to low cost financing as demand for infrastructure funding continues to grow.