Pappas, Malinowski, and Lipinski Introduce Toll Credit Marketplace Act to Bolster State Transportation Projects
Today Congressman Chris Pappas introduced the Toll Credit Marketplace Act of 2020 alongside Tom Malinowski (NJ-07), and Dan Lipinski (IL-03) which establishes an innovative marketplace that will increase resources available for state’s transportation and infrastructure projects.
Under current law, toll credits accrued by states are allowed to be used to cover local matches for federally funded projects. However, these toll credits can only be used for federally funded projects within the state where the credits were accrued, leaving many states with extra toll credits on the table. This legislation creates a marketplace for states to sell toll credits to fund state and regional transportation projects.
“New Hampshire’s infrastructure is in critical need while our state has hundreds of millions of dollars in federal toll credits on the table that can’t be accessed,” said Congressman Pappas. “This legislation will allow states with surplus toll credits to trade and leverage them for projects that will improve our transportation system, create jobs, and bolster our economy.”
“New Jersey has more toll credits than any other state in the country, but those billions of dollars in credits are unusable for many of our infrastructure needs. This common sense bill will allow states like New Jersey to trade away these surpluses, and finally be able to use these funds to expand and maintaining our state's infrastructure,” said Congressman Malinowski.
Representatives Pappas, Malinowski, and Lipinski all serve on the House Transportation and Infrastructure Committee.