Funding: $1,250,000,000

Description: Provides federal credit assistance in the form of direct loans, loan guarantees, and standby lines of credit to finance surface transportation projects of national and regional significance.

Eligible Recipients: States (including District of Columbia and Puerto Rico), localities, or other public authorities, as well as private entities undertaking projects sponsored by public authorities

Eligible Uses: Surface transportation projects, including highway, transit, intercity passenger rail, some types of freight rail, intermodal freight transfer facilities, and some modifications inside a port terminal, and electrification of buses, ferries, trains, and associated infrastructure. The Bipartisan Infrastructure Law specifically provides new eligibilityunder the Transportation Infrastructure Finance and Innovation Act Program for airport projects and expanded authority for transit-oriented development.

Learn More: Here