Bipartisan legislation recently introduced in the U.S. House of Representatives would make improvements to the Railroad Rehabilitation and Improvement Financing Program (RRIF).
RRIF was created in 1998. It authorized the U.S. Department of Transportation to issue funds to companies and organizations from the rehabilitation or construction of bridges, rail yards, track, and other support structures for passenger and short line railroads.
The department has made $8.2 billion in loans since 2000, less than 24% of the capacity authorized by Congress.
The Invest in American Railroads Act would make it easier for state and local governments and private groups to find RRIF when seeking to upgrade their existing rail infrastructure or develop new lines and rail facilities.
The bill was introduced by Reps. Ann McLane Kuster (D-NH), Chris Pappas (D-NH), and Lloyd Smucker (R-PA).
“Passenger and regional railroads are game-changers for communities around the country, helping to spur economic competitiveness and keeping Americans from spending hours sitting in traffic,” Kuster said. “Through supporting investment in rail infrastructure, this bill is a win-win for working families and for our nation’s economy. I look forward to working with Rep. Smucker to advance this bipartisan legislation that will improve our transportation infrastructure.”