The Association for the Improvement of American Infrastructure (AIAI) has commended the introduction of a new bill to Congress that seeks to amend the funding limits on highway and surface freight transfer facility bonds.

The Revitalizing American Priorities for Infrastructure Development (RAPID) Act introduced by Congressman Colin Allred and Congressman Mike Gallagher seeks to incentivize investment in infrastructure through participation in the Transportation Infrastructure Finance and Innovation Act (TIFIA). The bill bolsters transparency for the public, applicants and Congress, as well as expedites projects that meet certain criteria.  

The RAPID Act is a companion bill to bipartisan legislation in the Senate by U.S. Senator John Cornyn and Senator Tim Kaine. 

The bill is introduced by the following organizations:

• Association for the Improvement of American Infrastructure (AIAI)
• American Road and Transportation Builders Association (ARTBA)
• American Public Transportation Association (APTA)
• Associated General Contractors (AGC)
• American Society of Civil Engineers (ASCE)
• National Sand Stone and Gravel Association (NSSGA)
• National Association of County Engineers (NACE)
• U.S. Chamber of Commerce

The Transportation Infrastructure Finance and Innovation Act (TIFIA) program helps finance important national or regional surface transportation projects through direct loans, loan guarantees, or lines of credit. The TIFIA program serves as an important piece in financing investment into our nation’s infrastructure. The RAPID Act would make a number of notable changes to streamline the TIFIA program.