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BUS Act
1/11/2023, 1:49 PM
Summary of Bill HR 3334
The BUS Act aims to create a more favorable environment for small businesses to thrive by offering financial assistance, resources, and guidance. This includes grants, loans, and other forms of financial support to help small businesses grow and succeed.
Additionally, the BUS Act seeks to streamline regulations and reduce red tape for small businesses, making it easier for them to navigate the complex regulatory landscape. This will allow small businesses to focus on what they do best – creating jobs, driving innovation, and contributing to the economy. Overall, the BUS Act is designed to support and empower small businesses in the United States, recognizing their importance as the backbone of the economy. It is a bipartisan effort to promote economic growth and prosperity by investing in the success of small businesses.
Congressional Summary of HR 3334
Build Up the Suburbs Act or the BUS Act
This bill modifies programs that support public transportation projects, with a particular focus on fixed-guideway transportation systems (e.g., light rail and bus rapid transit).
Specifically, the bill expands eligibility for certain grants that support the construction and expansion of such systems. In particular, it increases the cap on federal assistance for Small Starts projects (funded through Capital Investment Grants) from $100 million to $360 million and the total estimated net capital cost from $300 million to $600 million. It also includes express lane transit systems within the scope of fixed guideways.
Further, the Department of Transportation must give priority in selecting Nationally Significant Multimodal Freight and Highway Projects to those that include public transportation components.
