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Rail News: Rail Industry Trends

Senate Finance Committee recommends TEA 21 transit funds

On Feb. 3, the Senate Finance Committee marked up its version of a reauthorized Transportation Equity Act for the 21st Century (TEA 21), providing $56.5 billion in transit funding during the next six years, according to American Public Transportation Association’s Legislative Update.

The federal transit program would receive $47 billion from TEA 21’s Trust Fund; the remaining $9.5 billion would come from the General Fund.

Last week, the Senate Finance Committee released a TEA 21 draft providing only $33 billion in transit funding. The Senate Banking Committee opposed the draft.

TEA-21 expires Feb. 29.

Contact Progressive Railroading editorial staff.

More News from 2/4/2004