Rick Larsen: “I have heard from many midsize cities in my district that they often struggle to compete with larger cities for Federal…”

“I have heard from many midsize cities in my district that they often struggle to compete with larger cities for Federal transportation funding. While the needs of midsize cities are just as significant as those of larger cities, the administrative burden of accessing TIGER grants or TIFIA loans is often too great. My amendment addresses that difficulty by improving access to TIFIA loans. While TIFIA is a great funding source for bigger projects, sponsors of smaller projects can be discouraged from using it because the application process is complicated and requires more resources than these cities can muster. My amendment would require the Secretary to provide an expedited process for TIFIA applications that are less than $100 million and backed by real revenue. These are smaller, lower risk projects that aren't happening because States and localities might be scared off by the long and involved TIFIA loan application process. By creating an expedited process for these smaller, lower risk projects, we can open access to Federal resources for smaller cities and counties that we represent. This is a streamlined amendment that puts more power in the hands of State and local governments, something I know that my colleagues can support. I appreciate that Chairman Shuster and Ranking Member DeFazio have made other improvements to the TIFIA process in the underlying bill, and my amendment complements these improvements in a straightforward way.…”