WASHINGTON – After months of advocating for immediate approval of a Department of Transportation federal loan, Rep. Sean Patrick Maloney, one of the only New York Members of the Transportation and Infrastructure Committee, announced that the Department of Transportation has approved a $1.6 billion federal TIFIA loan to build the new Tappan Zee Bridge, the largest loan of its kind ever issued by the federal government. On Monday, Rep. Maloney discussed the immediate approval of the Tappan Zee TIFIA loan in a meeting with Secretary Anthony Foxx.
"This historic investment in the Hudson Valley will create tens of thousands of good paying jobs, boost our economy, and serve commuters and businesses for decades," said Rep. Sean Patrick Maloney. "Since joining Congress, I’ve made it a top priority on the Transportation and Infrastructure Committee to cut through the red tape and work with our local, state and federal partners to push this process forward. I want to thank Governor Cuomo and other federal officials to finally get this done for folks in the Hudson Valley after a decade of delay."
At the House Transportation and Infrastructure Committee’s first hearing, Rep. Maloney advocated for the TIFIA program and the Tappan Zee Bridge and previously sent a letter to former Secretary LaHood and Secretary Foxx to urge the Department of Transportation to immediately approve New York’s TIFIA application which is necessary to help replace the bridge. The loan is made possible through innovative federal financing assistance that partners with private sector investments to deliver large transportation infrastructure projects.