The Port Authority of New York and New Jersey has some tailwinds at its back Tuesday when it sells a record $1 billion of taxable 40-year bonds to finance World Trade Center reconstruction.

“Interest rates are at a record low and contractors are desperate for work. This is when public agencies should be investing in capital projects. It makes enormous economic sense,” said Mitchell Moss, director of the Rudin Center for Transportation Policy and Management at New York University’s Wagner Graduate School of Public Service.

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