$1.66bn earmarked for U.S. Bus Systems

Federal Transit Administration has announced $1.66 billion funding for the Bus and Bus Facilities and Low or No Emission Vehicle (Low-No Program) programmes. Recent weeks have been jam-packed with federal grant announcements, from RAISE competitive grants to Build Back Better Regional Challenge competitive grants. The latter offers financing to assist transit agencies in purchasing or leasing low- or no-emission vehicles made in the United States, together with any necessary infrastructure or equipment.

U.S. Department of Transportation Secretary Pete Buttigieg is quoted as saying that the funding “means more good jobs for people across the country, cleaner air in our communities, and more affordable and reliable options to help people get to where they need to go” in a Federal Transit Administration press release from August 16.

Through the Infrastructure Investment and Jobs Act, both programmes saw a significant increase in funding (IIJA). For instance, the Low-No Program received $5.5 billion from the IIJA over five years, which is six times greater financing than the prior five years. The Grants for Bus and Bus Facilities Program is funded by the IIJA with roughly $2 billion spread over five years.

On the FTA website, you may see the complete listings of the projects that will be funded under both programmes in 2022.

A $19.3 million grant was given to the Metropolitan Atlanta Rapid Transit Authority (MARTA) to purchase 25 electric buses and charging infrastructure as a local example of Low-No Program funding.

Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.

Contact us