Lincoln Chafee: “this is a package of amendments to the Transportation Infrastructure Finance and Innovation Act, so-called TIFIA. These…”

“this is a package of amendments to the Transportation Infrastructure Finance and Innovation Act, so-called TIFIA. These include two types of changes. First, they make technical and noncontroversial changes to the TIFIA subchapter. The majority were recommended by the U.S. Department of Transportation to improve and clarify provisions under this act. Second, this package establishes a fee for those States that use the Federal credit assistance to fund transportation projects under so-called TIFIA. This fee is necessary to offset the revenue loss that the Joint Committee on Taxation estimated will result in the program. It is important to note we have confirmation from the Congressional Budget Office that this fee will address the loss. I am pleased that TIFIA was included in the underlying bill, S. 1173, as it will assist the Nation in funding the gap between transportation resources and needs.”