Infrastructure

Municipal market participants applauded President Obama’s proposal on Friday to create a new type of tax-exempt municipal bond that could be used to help finance public-private infrastructure projects, but one questioned whether it will pass muster with Congress.

The Senate Finance Committee took a step toward comprehensive tax reform on Thursday by launching five bipartisan working groups charged with issuing a report with recommendations by the end of May.

Weakening gasoline tax revenues will force Missouri to concentrate limited financial resources to road work on major arteries.

Chamber of Commerce chief Tom Donahue says oil price drop makes federal gas tax increase seem more attractive.

Municipal bonds could get caught up in corporate tax reform, particularly if infrastructure financing is involved, a former Treasury Department official said.

Maine's $2 billion, three-year transportation program is designed to upgrade the state's infrastructure despite sluggish federal highway funding.

The $996 million federal grant Massachusetts received to extend a Boston-area Green Line streetcar route is a credit positive, said Moody's.

New IBTTA president Javier Rodriguez seeks more toll options to fund investments in transportation infrastructure.

Tennessee highway coalition drums up support for an increase in state taxes and fees for infrastructure projects.

Development of a new multiyear highway bill with more funding for state transportation projects is main focus of a key Senate committee.

Work is officially under way on California's $68 billion high speed passenger rail project funded with $10 billion of voter-approved state bonds

Congress needs to preserve the tax exemption of municipal bonds if it's serious about supporting infrastructure, National Governors Association vice president and Utah Gov. Gary Herbert said.

MBTA completes its funding for a $2.3 billion light rail project in Boston with a $996 million federal grant.

States will seek ways in 2015 to enhance existing revenue streams or create new ones to fund critical transportation projects, Wells Fargo says.

Missouri's proposed $2 billion upgrade of I-70 could be funded by tolling the 200-mile link between Kansas City and St. Louis.

Lack of action on federal transportation funding means growth in states' use of public-private partnerships to build, fund, and operate large projects.

Short-term extensions of federal transportation spending are likely to continue through 2015 as lawmakers struggle with a gasoline tax that can't pay the bills.

Connecticut receives $30 million in grants for restoration and resiliency to infrastructure in municipalities affected by Hurricane Sandy, Gov. Dannel Malloy announced.

Fairfax and Loudoun counties in Virginia formally closed on $600 million of federal loans for Silver Line rail project to Dulles Airport.

A three-mile segment of the Coalfields Expressway will be the first public-private partnership project to be built under West Virginia's new P3 law.