Shant Boyajian Quoted on GARVEE Bond Program, Biden Impact

Shant Boyajian was quoted in the Inframation article, “Additional Details Revealed On Georgia Highway Bond Issuance.” The article examines the recent launch of GARVEE bonds supporting Georgia’s Major Mobility Investment Program (MMIP) and how actions by the Biden Administration could impact GARVEE bonds.

Commenting on the issue, Shant said, “The passage of multi-year transportation funding legislation in Congress would benefit the GARVEE program, as it would provide long-term certainty of federal apportionments to project sponsors.” He added, “With the Biden administration taking office in January, there may be some momentum for the passage of a long-term transportation funding bill…Rep. Peter DeFazio (D-Ore.), Chairman of the House Transportation and Infrastructure Committee, has long advocated for the passage of a long-term surface transportation bill.”

He closed by saying that the Biden Administration may not act immediately in this area, stating, “A long-term transportation bill is unlikely to be the first thing on Biden’s to-do list, as he will first have to concentrate on getting his cabinet nominations approved by the Senate. Legislative committees take a while to get organized, so any long-term infrastructure bill is unlikely to be introduced before March.”