Senate committee votes "yes" on financing for transit-oriented development


Today, the Senate Committee on Commerce, Science, and Transportation unanimously approved the Railroad Reform, Enhancement, and Efficiency Act (S. 1626). The bill expands the capabilities of the Railroad Rehabilitation and Improvement Financing (RRIF), a $30 billion loan program to provide needed financing for transit-oriented development projects and infrastructure near passenger rail stations.

“The reforms included in this legislation will help create new jobs and revitalize American communities,” said Christopher Coes, Director of LOCUS. “This bill will ensure that local communities and rail operators as well as real estate developers and investors all have the tools they need to the meet market demand for great walkable neighborhoods while encouraging greater private investment into passenger rail across the country.”

“LOCUS commends Senator Roger Wicker and Senator Cory Booker along with the Senate Commerce Committee for their leadership in approving this bill. We look forward to working with the full Senate as this bill moves to the floor and into conference.”