Transportation industry

After years of political stalemate, Michigan lawmakers appear close to a deal to tackle the state's aging roads and bridges with legislation that relies heavily on general fund dollars.

The Metropolitan Council of the Twin Cities takes competitive bids June 8 on $150 million of general obligation bonds to fund parks, transit, and wastewater projects in the region.

Maine Gov. Paul LePage signed a bill asking voters to approve $85 million of general obligation bonds for transportation.

Virginia will recoup $149 million of the more than $280 million the state spent on a cancelled $1.4 billion toll road P3.

Washington State's compromise 16-year, $16 billion transportation plan includes gasoline tax increase and $5.3 billion of state GO bonds.

Leaders of New York's Suffolk County are pitching a $300 million Long Island Innovation Zone to enhance the region's transportation network and create economic development.

A report co-authored by Harry Markopolos, who offered unheeded early warnings of Bernard Madoff's fraud, said the pension fund of Greater Boston transit workers may be overestimating its value by up to $470 million.

Gasoline taxes go up July 1 in six states to fund local highway projects while federal gasoline tax remains at 1993 level.

States are making plans for another short-term extension or a possible cutoff of federal transportation funding on July 31.

The state Senate last week did not confirm four of five appointees by Gov. Andrew Cuomo and New York City Mayor Bill de Blasio to the Metropolitan Transportation Authority board.

A legal battle over use of a gate at Love Field will delay $110 million of revenue bonds for an urgently needed parking garage at the Dallas airport.

The Texas Transportation Commission has approved $239 million for projects covered by Proposition 1, a constitutional amendment passed by voters in 2014.

Maryland Gov. Larry Hogan gives preliminary approval to progress on halted $2 billion Purple Line P3 light rail project.

The Illinois State Toll Highway Authority is issuing up to $400 million of toll-backed revenue bonds next month, the first of two new-money borrowings to finance a record year of capital spending.

The possibility of an underfunded capital plan begs the question of whether the MTA, already a large municipal issuer, may have to borrow even more.

Allowing states to levy tolls on interstates would solve the revenue problem hobbling highway P3s, advocates tell Senate Finance Committee.

The federal government extended All Aboard Florida’s $1.75 billion private activity bond allocation, relieving pressure on the private train owner to issue the bonds as legal challenges proceed.

The Senate Environment and Public Works Committee adopted a six-year highway bill with a 4.6% boost in federal funding.

Further delays in obtaining a five-year capital plan could mean even more delays for the East Side Access project to bring the Long Island Rail Road to Grand Central, said New York MTA Chairman Thomas Prendergast.

Moody’s Investors Service has revised its outlook on Kansas City, Missouri’s Airport Enterprise ratings to positive thanks to recent revenue and traffic growth.