The U.S. Department of Transportation (DOT) has issued a waiver for the Buy America requirements for transit-oriented development (TOD) housing projects getting credit assistance from TIFIA and RRIF programs. This waiver will affect TOD projects entering creditworthiness review by the end of 2025 and is intended to expedite these projects while maintaining domestic content standards. The DOT will keep working with borrowers to understand material sources and improve their policy for future projects. The waiver applies to both for-profit and non-Federal entity borrowers.
Simple Explanation
The U.S. Department of Transportation is letting some projects use foreign-made parts to build new homes near train stations faster. They think this will help get the projects done more quickly, but some people worry it might be tough on American factories.