Infrastructure

The deal comes after months of disagreements over ballooning costs for the project, which was first announced in 2018.

Lawmakers in Illinois have proposed legislation to consolidate the Chicago Transit Authority, Metra, Pace and the Regional Transportation Authority.

The Build America Bureau has $100 million in grants available over the next five years for public entities doing pre-development work to structure public private partnerships for transportation and transit-oriented development projects. 

The loan, which features a 2.5% interest rate, will finance nearly half of a community building in downtown Mount Vernon, Washington.

Strong and growing sales tax revenues support the bonds. Repayment isn't tied to ridership, which has declined.

Polk County, Iowa is issuing $113 million of general obligation capital loan notes, Series 2024A, for the Des Moines Airport Authority's new terminal project.

Sen. Joe Manchin, D-W.Va., has already pledged to try to overturn the rule in Congress.

Subcommittee Chair Rep. Steve Womack, R-Ark., asked Buttigieg if the $20 billion of federal commitments for transit projects over the next decade "might create a check we can't cash."

The bill would authorize $105 billion in appropriations through 2028 but still faces a few hurdles in Congress.

Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.