Executive Briefings

LaHood Pledges DOT Backing for Port Upgrades

Transportation Secretary Ray LaHood said the Obama administration is committed to helping U.S. marine ports improve their facilities, especially since the 2014 opening of larger Panama Canal locks will put more pressure on those ports.

"We've made investments and we've enhanced our ports and we will continue to do that, because they've become real economic engines for jobs," he said.

His remarks come as the Department of Transportation is taking applications for transportation construction projects competing for $527m in third-year TIGER grants. And President Obama in his new jobs plan is seeking $60bn in transportation project spending and to capitalize a federal infrastructure bank to issue loans and financing guarantees to private and public entities.

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Transportation Secretary Ray LaHood said the Obama administration is committed to helping U.S. marine ports improve their facilities, especially since the 2014 opening of larger Panama Canal locks will put more pressure on those ports.

"We've made investments and we've enhanced our ports and we will continue to do that, because they've become real economic engines for jobs," he said.

His remarks come as the Department of Transportation is taking applications for transportation construction projects competing for $527m in third-year TIGER grants. And President Obama in his new jobs plan is seeking $60bn in transportation project spending and to capitalize a federal infrastructure bank to issue loans and financing guarantees to private and public entities.

Read Full Article