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Stopping Federal Funding for Costly and Unprofitable Rail Projects.

This bill aims to protect taxpayer money by prohibiting new federal funding for major transit and rail projects that have experienced massive cost overruns or are projected to be financially unsustainable. If a project exceeds its original budget by $1 billion or more, OR is expected to lose money annually for the next decade, it will be cut off from new federal assistance. This ensures that federal transportation investments are fiscally responsible.
Key points
Federal funding is blocked for transit and rail projects with cost overruns of $1 billion or more compared to the original projection.
Funding is also denied if the project is projected to lose money (operating costs exceed ridership revenue) for the next ten years.
The goal is to prevent the waste of public funds on financially failing or excessively expensive transportation infrastructure.
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Additional Information
Print number: 118_S_1259
Sponsor: Sen. Ernst, Joni [R-IA]
Process start date: 2023-04-25