Transit Agencies Could Benefit From Auto Bailout Provision.

The article reports that transit agencies would benefit from the emerging auto bailout legislation under a provision included in drafts of the bill. The controversy stems from the innovative financing deals that many transit agencies entered into with banks from the late 1980s to 2003, encouraged by the Federal Transit Administration. The so-called SILO transactions enabled banks to receive tax breaks in exchange for injecting capital into transit and other public transportation projects.