David Price: “Section 193 simply ensures that when TIFIA loans are repaid by local funds, they are treated as part of the local share…”

“Section 193 simply ensures that when TIFIA loans are repaid by local funds, they are treated as part of the local share of transportation projects. That sounds like common sense to me. Let me address some of the concerns addressed by my colleague from Georgia. First, this provision was included in the bill with the full support of the authorizers, the Transportation and Infrastructure Committee. Second, when my colleague was in the majority, I would remind him there were no concerns with making permanent authorizing changes on the Transportation appropriations bill, and it did not matter if a highway reauthorization bill was on the horizon. Third, section 193 is not a significant departure from current law. Today, the Department of Transportation may--may--determine that a TIFIA loan repaid from non-Federal funds--that is, local funding--can be designated as part of a non-Federal share of Transportation projects costs. This is particularly important for large, complex projects, which are seeking to piece together local, State, and Federal funding from multiple sources. The gentleman claims to be concerned about small communities losing their fair share of Federal capital investment grant funding, but he should know that we have appropriated ample funding for all projects in the grants pipeline.…”