U.S. Department of Transportation Provides Additional $36 Million to Puerto Rico and US Virgin Islands for Repairs to Hurricane-Damaged Roads and Bridges
WASHINGTON – The U.S. Department of Transportation’s Federal Highway Administration (FHWA) today announced the immediate availability of $30 million in “quick release” Emergency Relief funds for further repairs to roads and bridges throughout Puerto Rico, and $6 million for road repairs throughout the U.S. Virgin Islands. These funds supplement $42.5 million in ER funds previously made available to Puerto Rico, bringing total highway federal-aid ER funding for the territory for the two hurric...
EDA Invests $2.2M in Railroad Upgrades to Serve Davenport, Iowa, Businesses
The Commerce Department's Economic Development Administration said it awarded a $2.2 million grant to the city of Davenport, Iowa, to build a new freight rail interchange track and rail spur to serve a new manufacturing facility and other businesses locating in the city's industrial park. The EDA said grantees expected the project to create more than 500 jobs and spur $78.5 million in private investment. The rail improvements support manufacturing and logistics industries, and build on oth...
Puerto Rico Seeks $5.84B in Disaster Aid for Transportation Facilities
Gov. Ricardo Rosello is asking President Trump and Congress to provide Puerto Rico with more than $5.84 billion in disaster aid just to cover repairs to the island territory's hurricane-damaged roads, bridges, seaports and airports. That is part of a total $94.4 billion aid request he submitted Nov. 13 in a letter to Trump, of which $31 billion is to rebuild housing, nearly $18 billion for the power grid and resiliency upgrades, and $15 billion for healthcare. The governor is seeking almos...
Transit Group: Tax Proposal a ‘Missed Opportunity’ to Fix Highway Trust Fund
The group representing U.S. public transit agencies said the House Ways and Means Committee's new tax reform plan is a "missed opportunity" to include measures that could put the Highway Trust Fund on a sustainable financial footing. Richard White, acting CEO of the American Public Transportation Association, said in a Nov. 3 statement that the plan offered by House majority Republicans "fails to address key priorities of the public transportation industry." The trust fund provides fundin...
Aster has Announced €240 Million in Capital Raised, Taking Position as the Leading Venture Capital Fund Dedicated to the Energy Transition and the Mobilities of the Future
With €240 million in capital raised, Aster brings its total funds under management to €500 million and strengthens its position as a central player in financing innovation. A specialist in digital transformation and industries of the future, the investment company provides support to growing companies in the sectors of energy, mobility and industry. Building from a “Business Hub”, a true acceleration platform serving entrepreneurs, Aster provides them with support to jump-start their developm...
Assemble Systems Announces $12 Million in Series A Financing - Boston-Based BIM in Construction Leader Chosen by AEC Powerhouse Autodesk for Forge Fund Investment
Assemble Systems, Inc. announced a $12 million Series A round of new financing led by the Autodesk Forge Fund, with participation by existing investors Satterfield Vintage Investments and Assemble Investments. This new funding will help the company to further establish itself as a leading innovator in the BIM and construction data management space. The announcement was made at Autodesk’s annual user conference, Autodesk University, in Las Vegas. With this Series A funding, Assemble Systems es...
Hawaii DOT Airports Division Says Rise in Bond Rating to Cut Infrastructure Costs
The Hawaii Department of Transportation's Airports Division said an upgrade in the revenue bond rating for the state airport system means it can make infrastructure improvements at lower debt service costs. HDOT said Fitch Ratings raised its rating to A+ from A, citing the airport system's continued strong operational and financial performance, with credit metrics remaining above previously forecast levels. "The upgraded rating will translate into millions of dollars in savings through low...
FHWA Reopens Pilot Program to Allow Three States to Toll Interstate Segments
The Federal Highway Administration is taking applications until Feb. 20 to allow up to three states to levy tolls on existing interstate highway segments, under a pilot program in which the previous participants never used their authority to begin tolling the highways. The agency explained that while Congress originally established the pilot program in 1998, lawmakers in the 2015 Fixing America's Surface Transportation Act set a three-year deadline (with a possible one-year extension) for sta...
GOP Tax Plan Would Affect Bonding, Transit Benefits; End Credit for Electric Vehicles
The proposed Republican tax reform plan would end private-activity bonds and tax-credit bonds that finance some types of infrastructure projects, a credit of $7,500 for each plug-in electric vehicle and a write-off for employers to offer commuter benefits. The plan would also limit early refinancing of existing municipal bonds. The GOP plan aims to end private activity bonds, which allow bondholders an income tax exemption on interest payments similar to municipal bonds and are used to fin...
DOT Should Take Actions to Improve the Selection of Freight and Highway Projects
In 2016, the Department of Transportation (DOT) developed a multi-phased review and selection process for a new grant program—the Fostering Advancement in Shipping and Transportation for the Long-term Achievement of National Efficiencies (FASTLANE). DOT awarded FASTLANE grants to 18 freight and highway projects. Multiple teams of reviewers evaluated 218 applications based on an evaluation plan that outlined the criteria and process for evaluating applications. GAO found that the awarded projects...
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June Issue 2026
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