Signed into law in December, the Fixing America’s Surface Transportation (FAST) Act finally brings some predictability to funding surface transportation infrastructure, plus a modest increase in funding.
China joined the European Bank for Reconstruction and Development (EBRD) this month. The move will open doors for the China Development Bank to co-finance construction projects and also give Chinese contractors access to the continent, analysts said.
Some of President Obama’s earlier State of the Union addresses had meaty sections about improving U.S. infrastructure, creating jobs and accelerating project reviews. But his final State of the Union speech, delivered on Jan. 12, didn’t mention infrastructure or construction at all.
When, as expected, President Obama signs into law the National Defense Authorization Act, a new military spending bill, he probably won’t know about Section 874, which upgrades the minimum standards for surety-bond assets.