WASHINGTON, D.C. — On Wednesday, Democratic and Republican leaders from the Senate Environment and Public Works Committee endorsed spending $1 billion a year, up from the current $110 million, for the Transportation Infrastructure Finance and Innovation Act to support the continued growth of transportation projects, according to the Los Angeles Times.
The increase was included in an agreement reached between Sen. Barbara Boxer (D-Calif.), who chairs the committee; Sen. James Inhofe of Oklahoma, the committee's top Republican; and other senators on nearly $55 billion a year overall for the next big transportation bill.
The senators also agreed to steer a portion of the funds from the federal loan program, something that should boost its chances of gaining political support. For the full story, click here.