New Transit Funding Agency May Be In The Works

Transporation officals from across the country are calling for a new federal finance corporation to support highway and transit projects.

1 minute read

May 9, 2002, 10:00 AM PDT

By Christian Madera @http://www.twitter.com/cpmadera

Facing slow growth in federal transportation funds, The American Association of State Highway and Transportation Officials (AASHTO), which represents the states' departments of transportation, are recommending the creation of a new federal corporation that would sell tax-credit bonds to expand spending on highways, transit and railroads by billions of dollars. The new federal Transportation Finance Corporation would be similar to the Federal National Mortgage Association (Fannie Mae). According to AASHTO executive director Jack Horsely, the plan would increase spending over six years for highways by $34 billion, for transit by $8.5 billion and for other needs by $5 billion.

Thanks to Christian Peralta

FULL STORY: State Officials Seek New Transit Funding Agency

Thursday, May 9, 2002 in The Washington Post

Transportation United States

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