Infrastructure

A federal memo on IIJA dollars outlines Biden administration priorities but doesn’t tie states’ hands when it comes to funding, the transportation secretary said.

The president touted the benefits of last year's Bipartisan Infrastructure Law and American Rescue Plan Act during his first State of the Union address.

Recent federal laws have provided municipalities with record levels of funding, but may only have a marginal increase in the number of issuances.

“I want to break ground next year,” Kentucky Gov. Andy Beshear said.

The U.S. and European Commission moved Saturday to disconnect Russia from a global financial system.

February volume was $26.481 billion in 594 deals versus $37.052 billion in 981 issues a year earlier, bringing total volume for the first two months of the year to $51.426 billion, or 20% less than 2021.

A judge has ordered the state to reconsider its rejection of a bid for a $9 billion P3 for new toll lanes, a move that could delay Gov. Larry Hogan’s priority project.

The proposal would offset all gas tax losses to the Highway Trust Fund but would still hasten its insolvency.

Much of the new infrastructure funding can't flow to states until a full FY22 bill is enacted.

High material costs and labor shortages are expected to persist through 2022 just as states and localities are planning how to spend the Infrastructure Investment and Jobs Act money.