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Bipartisan Senate bill lifts PABs cap to $45 billion
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"Our bipartisan bill would help state and local governments supercharge their infrastructure financing," said Sen. Tammy Duckworth, D-Ill., about the TURBO Act.
Tammy Duckworth, D-Ill., and Dave McCormick, R-Pa., introduced the Transit for Urban Renewal and Business Opportunities Act, or TURBO Act , July 31.
The bill would lift the surface transportation PABs cap to $45 billion from $30 billion and expand them to more transit rail projects.
Neither the House or Senate have addressed the PABs cap yet.
Surface transportation PABs are no longer an experiment and should now be mainstreamed as a proven tool for financing transportation P3s."