Transportation: Funding for Highways and Trains
A senate committee must act next: committee consideration.
The bill has support from both parties and addresses popular infrastructure needs, but it still needs to clear the Senate Finance Committee.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Engineering firms, contractors, and equipment suppliers involved in local transit and highway projects could see more work as governments and private developers gain access to a larger pool of low-cost, tax-exempt financing. The effect is indirect and depends on how quickly states and localities take advantage of the expanded bond limit.
“striking ``$30,000,000,000'' and inserting ``$45,000,000,000''.”
Read twice and referred to the Committee on Finance.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
U.S. Senators Tammy Duckworth (D-IL) and Dave McCormick (R-PA) introduced the TURBO Act to modernize federal financing tools. The bill raises the Private Activity Bond cap to $45 billion and allows funding for 'rolling stock' like buses and railcars to help local communities replace aging fleets.
Senators Dave McCormick and Tammy Duckworth introduced the TURBO Act this week. The legislation aims to unlock private investment by raising the volume cap for highway and freight projects to $45 billion and expanding bond eligibility to include the acquisition of new trains and buses.
The bipartisan TURBO Act seeks to modernize the Build America Bureau’s financing tools. By raising the bond limit to $45 billion and allowing for rolling stock purchases, the bill helps state and local governments deliver critical infrastructure projects through public-private partnerships.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
TURBO Act
Analysis generated by AI. Always verify with official sources.