Brian Cassidy, a Partner in Locke Lord’s Austin office and Co-Chair of the Firm’s Administrative and Regulatory Practice Group, was quoted by The Bond Buyer on the implications of a Department of Transportation (DOT) policy memo addressing funding for the $1.1 trillion Infrastructure Investment and Jobs Act (IIJA), also known as the Bipartisan Infrastructure Law. Cassidy said the memo, which outlined funding priorities for the IIJA, is focused on projects other than new and expanded roadways and carries significant implications.
“There’ve been signals coming out of the Biden Administration that they were going to be more focused on transit oriented, less new capacity [infrastructure] in general,” Cassidy said. “This really solidifies that in pretty clear and unequivocal language.”
Cassidy added that the memo also indicates the DOT will issue guidance for “legacy” programs, which could include and affect the Transportation Infrastructure Innovation and Finance Act if funding criteria changes.
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