Airport Alert: Senate Committee Approves 5-Year Surface Transportation Bill
May 26, 2021
The Senate Environment and Public Works Committee today unanimously approved a 5-year surface transportation bill that proposes to open the door for airports to use federal loans and loan guarantees for a wider variety of infrastructure projects.
The Surface Transportation Authorization Act of 2021 includes language proposed by Senators Tammy Duckworth (D-IL) and John Cornyn (R-TX) that would allow airports to access low interest loans and loan guarantees under the TIFIA program for PFC-eligible projects. The two recently introduced a free-standing bill (S. 1715) that would expand the TIFIA program to more airport projects.
Unlike the Duckworth-Cornyn bill, the surface transportation bill would cap the amount of TIFIA funds available for airport projects. It would also add Buy American and Davis-Bacon prevailing wage requirements to airport-related projects financed through the TIFIA program.
Overall, the Senate surface transportation bill calls for more than $300 billion for highways, roads and bridges over the next five years. We expect the House Transportation and Infrastructure Committee will unveil and consider its version of a surface transportation bill in early June as lawmakers prepare to move on a broader infrastructure package.
The Senate Environment and Public Works Committee today unanimously approved a 5-year surface transportation bill that proposes to open the door for airports to use federal loans and loan guarantees for a wider variety of infrastructure projects.
The Surface Transportation Authorization Act of 2021 includes language proposed by Senators Tammy Duckworth (D-IL) and John Cornyn (R-TX) that would allow airports to access low interest loans and loan guarantees under the TIFIA program for PFC-eligible projects. The two recently introduced a free-standing bill (S. 1715) that would expand the TIFIA program to more airport projects.
Unlike the Duckworth-Cornyn bill, the surface transportation bill would cap the amount of TIFIA funds available for airport projects. It would also add Buy American and Davis-Bacon prevailing wage requirements to airport-related projects financed through the TIFIA program.
Overall, the Senate surface transportation bill calls for more than $300 billion for highways, roads and bridges over the next five years. We expect the House Transportation and Infrastructure Committee will unveil and consider its version of a surface transportation bill in early June as lawmakers prepare to move on a broader infrastructure package.
