Senate Committee Defends AGC-Supported Water Infrastructure Bill
On July 11, the Senate Environment and Public Works Committee held a hearing in which both Republicans and Democrats expressed support for infrastructure improvements. Senators heard testimony from witnesses about the benefits of the Transportation Infrastructure and Innovation Act (TIFIA) and the Water Infrastructure Finance and Innovation Act (WIFIA) programs – both of which provide long-term, low-cost financing to regionally and nationally significant transportation and water projects respectively. Of particular interest is the overwhelming support from senators and stakeholders in regards to the “Securing Required Funding for Water Infrastructure Now (SRF WIN) Act,” which AGC worked to get included in the committee-passed America’s Water Infrastructure Act of 2018.
The SRF WIN Act provides a streamlined path for Drinking and Clean Water State Revolving Funds to access the low-interest funding offered through WIFIA, resulting in states having a more efficient and economically-attractive alternative to the private bond market and, subsequently, allow the SRFs to fund more projects.
The SRF WIN has received unfounded criticism from some private water utility groups but, if this hearing is any indication, the bill enjoys broad bipartisan support. The Senate has not identified when the “America’s Water Infrastructure Act” will be considered. In the meantime, AGC continues to work to ensure SRF WIN remains in the bill.
For more information, contact Sean O’Neill at email@example.com or (202) 547-8892.