Transportation industry

A $15.1 billion, 16-year transportation package proposed by Washington State House Democrats includes more than $8 billion of new projects to be funded with an increase in the state gasoline tax and up to $4.3 billion of state general obligation bonds.

The Providence, R.I., City Council will consider a proposal to borrow $57.7 million for upfront costs of a 1.6-mile streetcar line.

Lower pump prices are boosting fuel consumption and vehicle miles traveled, leading to higher gas tax collections, a trend Moody’s Investors Service expects to continue over the near-term.

The $1.3 billion sweep of non general fund accounts to help close a shortfall in Illinois' current budget drew $300 from key transportation funds used to pay for capital projects and cover debt service, according to a report from a local government watchdog organization.

Congress should consider raising motor fuels taxes to shore up the dwindling Highway Trust Fund, a bipartisan grassroots group advocating responsible fiscal policy said this week.

Minnesota lawmakers should use the state's budget surplus for education and other services and approve new borrowing for transportation and infrastructure to make a lasting imprint on the state landscape, Gov. Mark Dayton urged in his state of the state address.

The Texas Department of Transportation would no longer be allowed to issue bonds backed by the Texas Mobility Fund under legislation approved by the state House.

The new Florida Development Finance Corp. board on Tuesday delayed reconfirming the agency's decision to be the conduit for $1.75 billion in private activity bonds for the All Aboard Florida train project.

Port of Oakland hopes a 360-acre trade and logistics center currently under construction will enable it to grab business from southern California's ports.

With some maturities oversubscribed by a factor of five, the North Texas Tollway Authority recorded net present value savings of nearly $90 million or 10% on an $866.5 million refunding, according to chief financial officer Horatio Porter.

The Department of Transportation is soliciting applications from public entities for $500 million of grants to help finance transportation projects across the country and will hold the first of four webinars on the application process on Wednesday.

The New York City Transitional Finance Authority intends to sell about $1.03 billion of future tax secured subordinate bonds this month.

A San Francisco-based airline's April Fool's joke triggered a disclosure notice on EMMA; the trustee for bonds issued for the airport in Branson, Mo. Wanted to be sure bondholders new that Virgin America was just kidding about its plans to serve Branson.

Despite the bankruptcy of its current operator, the Indiana Toll Road continues to show the benefits of privatization, as does the new $5.7 billion bid for the road, Wells Fargo says in a new report.

The federal government will run out of money for transportation and other infrastructure projects in late July or August, roughly two months later than expected, Transportation Secretary Anthony Foxx said Thursday.

The North Texas Tollway Authority expects to reduce its maximum annual debt service by $80 million with an $871 million refunding, chief financial officer Horatio Porter said.

Georgia Gov. Nathan Deal said he will sign a "landmark transportation bill" that will bring as much as $900 million in needed funding for state road work.

The North Texas Tollway Authority is undergoing an Internal Revenue Service Examination of its 2009 variable-rate bonds as it prepares to refund $871 million of second-tier bonds, according to an addendum to the preliminary official statement.

State lawmakers have approved more than $1 billion a year of new local transportation funding in 2015 with more to come.

The Missouri Highways and Transportation Commission has tapped its chief financial officer Roberta Broeker to serve as interim director of state Transportation Department as a national search continues for a new leader to replace retiring director Dave Nichols.