DOT announces $17 billion expansion of transportation loan program

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LaHood said the expansion of the TIFIA loan program would help address "a pent-up demand for infrastructure projects."

"We're going to be looking for projects that are of national significance where folks are working together," he said. "I think we have done a pretty good job with TIFIA. Now we have more resources."

The new transportation bill, which took effect shortly after it was signed by President Obama, provides $750 million for the TIFIA program in 2013 and $1 billion in 2014.

LaHood said Friday that the expansion was the "largest infrastructure loan program in history."

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