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DOT officials say the funding approval marks the largest Transportation Infrastructure Finance and Innovation Act loan amount for a single borrower.

While rates remain low, builders are “more cautious in their hiring,” says economist Bernard Markstein.

Artificial intelligence-powered construction platform's series B funding adds more investors as firm expands its product capabilities, go-to-market teams and field enablement program

Overall, House Appropriations bills total $1.6 trillion, a $45 billion cut compared to 2025 enacted levels.

Associated Builders and Contractors Chief Economist Anirban Basu cites labor shortages, tariffs as continuing industry challenges while construction spending slows amid caution and the end of Biden administration funding. 

Despite ongoing economic uncertainty, ABC members report an increase in construction backlog.

Transportation Infrastructure Finance and Innovation Act loans are now available to assist with up to 49% of eligible project costs. 

The budget reconciliation bill also cuts support for clean energy projects and appropriates funding for some construction projects.

The facility is part of the Port Authority of New York and New Jersey’s $10B Manhattan bus terminal upgrade