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Moody’s Investors Service told clients that transportation infrastructure needs are one of the driving forces of United States public finance in a March 10 Credit Outlook note.

The United States needs to spend $65 billion to $86 billion annually over the next 20 years to maintain its current highway infrastructure, the Department of Transportation said.

A bipartisan group of U.S. senators led by Sen. Mark Warner (D-Va.) introduced legislation to create a $10 billion infrastructure bank that would use loans and loan guarantees to encourage private investment in transportation projects.

WASHINGTON — The federal government’s main source of transportation funding is headed for its own “fiscal cliff” unless Congress acts to pay for infrastructure needs that are critical to the economy, a transportation official said Nov. 21 during an American Highway Users Alliance conference.

The Department of Transportation is asking the public for comments on its four-year strategic plan for the nation’s transportation and infrastructure.

Transportation spending dominated much of the political crossfire in Washington last week between President Obama and House Republicans.

Freight industry representatives asked lawmakers to confront urban transportation challenges, including congestion, intermodal connections and port infrastructure.

President Obama said Tuesday that he wants to use billions that would be saved by his proposal to close overseas business-tax loopholes to fund infrastructure projects.

President Obama said Thursday he plans to roll out a new infrastructure plan in the coming weeks and take it to the country to create jobs and make the American economy more competitive globally.