A Staten Island ferry heads across New York harbor. New ferry terminals were built in 2005 with TIFIA loan backing (Photo by Spencer Platt/Getty Images)
TIFIA is the federal loan program, which uses Treasury funds to help finance state and local governments’ infrastructure projects: bridges, ferry terminals, toll roads, etc.
Last week I mentioned that the new bridge across the Hudson River in New York is financed partly by a $1.6 billion TIFIA loan. TIFIA, which is run by the Department of Transportation, stands for Transportation Infrastructure Finance and Innovation Act.