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LaHood to make 'major announcement' about TIFIA loans
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07/26/12 04:13 PM ET
Transportation Secretary Ray LaHood will make a "major announcement" on Friday about loans that were included in the $105-billion transportation bill that was approved last month by lawmakers.
In addition to appropriating more than $50 billion per year for the next years to road and transit projects, the Moving Ahead for Progress in the 21st Century Act (MAP-21) increased funding for issuing loans through the Transportation Infrastructure Finance and Innovation Act (TIFIA) program.
Under the new transportation legislation, the TIFIA program will receive $750 million in 2013 and $1 billion in 2014.
LaHood will speak to reporters at 10:30 a.m. on Friday morning.
