WASHINGTON - U.S. Transportation Secretary Ray LaHood is encouraging states and cities to submit letters of interest for $1.7 billion of loans or guarantees available under the Transportation Infrastructure Finance and Innovation Act program, which LaHood said could ultimately help leverage $50 billion in transportation investment.

"Americans have always done big things - not in spite of hard times, but as a means of overcoming them," said LaHood. "That's why the Obama administration is launching the largest infrastructure loan program in our history - these investments will help cities and states create jobs right away building the big transportation projects we need to make sure our economy continues to grow and prosper."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.