LaHood to make ‘major announcement’ about TIFIA loans

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.

{mosads}The loan program was hailed by both Democrats and Republicans when the transportation bill was approved by lawmakers.

LaHood will speak to reporters at 10:30 a.m. on Friday morning.


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