Infrastructure

Virginia is poised to enact a funding bill that raises sales taxes but slashes fuel taxes to create $200 million of new transportation revenue each year that could be used for bonding.

Municipal market participants are encouraged but cautious about President Obama's proposal for a new type of taxable, direct-pay bond called America Fast Forward bonds to finance the nation's infrastructure.

The Ohio Turnpike Commission plans to issue a pair of RFQs for firms interested in acting as underwriter or bond counsel on a $1.5 billion deal featuring a new turnpike credit that still needs to be approved by the Legislature.

President Obama's proposal for a Build-America-Bonds-like program for infrastructure has its roots in a proposal by the Los Angeles County Metropolitan Transportation Authority, and some infrastructure analysts say it represents a pro-business pivot from the White House.

A new Reason Foundation study analyzing road trends over the past two decades challenges claims of "crumbling infrastructure," which have been used by transportation advocates and policymakers as justification for everything from higher taxes to new or expanded bond programs.

Florida's Santa Rosa Bay Bridge default makes it the largest issuer in default of its municipal bonds this year, according to Bank of America Merrill Lynch.

Texas lawmakers are weighing raising fuel taxes or levying a new sales tax on vehicles and related products.

The Houston City Council last week approved a lease agreement between William P. Hobby Airport and Southwest Airlines, clearing a path for Southwest's first international flights.

Federal, state and local departments of transportation have so far obligated $7 billion in federal highway funds during fiscal year 2013, a 56% increase over the same period last year, according to a new report from the American Road & Transportation Builders Association.

Managed lanes are the way of the future for transportation finance in Texas, but some experts question how far high-speed tollways can go toward closing highway revenue gaps.