Congressional Quarterly reports that Metro is urging Congress to approve a new tax-credit bond program to fund transportation infrastructure — one of two financial strategies LA Mayor Villaraigosa was counting on to accelerate the 30-10 plan.  The other strategy was the robustly-funded low-interest TIFIA loan program that was adopted by Congress last year.

The bond program was dropped in conference committee but would have authorized $2 billion annually that when leveraged with private investment would have provided $50 billion in lending power every year.

Steve Hymon cites the CQ story on The Source blog, noting the article is behind a paywall. But he excerpts a quote from Mark Zandi, chief economist at Moody’s Analytics, a Wall Street research firm, who wrote in a recent analysis that “nearly any infrastructure project seriously being considered today will return more than the 2 percent the U.S. Treasury is paying on 10-year bonds. As with any business that borrows to invest in machine tools or computers, or a household that borrows to purchase a home or car, it makes sense for government to borrow to invest in an infrastructure asset that will provide returns for years.”