ASCE Applauds U.S. House T&I Committee’s Bipartisan Report on Public-Private Partnership
September 17th, 2014 | By: Becky Moylan
The following is a statement from Randall (Randy) S. Over, P.E., F.ASCE, president of the American Society of Civil Engineers (ASCE) regarding the U.S. House of Representatives’ Transportation & Infrastructure Committee’s special panel report, Public-Private Partnerships: Balancing the Needs of the Public and Private Sectors to Finance the Nation’s Infrastructure, on the use of Public-Private Partnerships (P3s) to improve the nation’s infrastructure: “Public-Private Partnerships (P3s) are a valuable form of financing for infrastructure projects. They have proven effective in projects across multiple sectors of infrastructure, as evident in the report released today. Similar to last week’s Infrastructure Investment Summit hosted by the Obama Administration, which ASCE members attended, bipartisan conversations like this one are crucial in ensuring we are leveraging all the potential dollars available to modernize our nation’s infrastructure. This special panel’s efforts indicate strides are being made in the dialogue. “ASCE agrees with the report’s assessment that P3s are not the silver bullet to address our nation’s infrastructure investment deficit. The nation needs a boost in traditional funding, as well. In the 2013 Report Card for America’s Infrastructure, our nation received a D+ GPA. That grade indicates we have a large investment need; one that requires leadership on all levels on government. The U.S. Congress must continue to strive for sustainable, long-term funding sources to improve and maintain our infrastructure. It should begin by addressing the Highway Trust Fund’s insolvency before the end of this year. By doing so, Congress will shorten the uncertainty for states as they plan transportation projects.”Tags: highway trust fund, P3s
2 Comments »
This Week in Infrastructure: The House Approves a Highway Trust Fund Patch
July 18th, 2014 | By: Becky Moylan
On Tuesday, the House of Representatives passed a short-term bill to keep the Highway Trust Fund up and running until May 2015. While Democrats were hesitant about the proposal, ultimately the bill passed with bipartisan support, 367-55. In a statement commenting on its passage, ASCE reiterated the need for a long-term, sustainable funding solution. A wide variety of groups urged Congress in a letter to “avoid the immediate transportation cliff and improve the long-term fiscal condition of the Highway Trust Fund.”. The diverse list of co-signers, from the National Retail Federation to the civil rights organization NAACP, and ASCE to Smart Growth America, underscores the potential detriment of inaction. Meanwhile, newspaper editorial boards continue to rally around the idea to increase the gas tax. Most notably this week The New York Times and Bloomberg offered compelling arguments for raising the user fee to ensure it has the buying power of the 2014 dollar. Even comedian Jon Stewart of The Daily Show weighed in with his views on the subject. The White House also focused much of its week on infrastructure investment, releasing a report to support its Rebuild America campaign.Good infrastructure has a ripple effect: Job creation ✓ Less road congestion ✓ More reliable travel times ✓ pic.twitter.com/dhzBo2Whfp
— Vice President Biden (@VP) July 15, 2014
On Thursday, President Obama visited Delaware’s I-495 bridge to announce the administration’s new public-private partnership funding initiative, the Build America Transportation Investment Center. This “one-stop shop” will connect state and local governments with private financing options.
This week the media discussed the Highway Trust Fund frequently, and the topic will likely remain in the headlines into next week as the Senate prepares to act on a program extension. Therefore, there is still much work to be doing to #FixtheTrustFund. Join that effort by contacting Congress now and encouraging long-term, sustainable legislation.
Tags: gas tax, highway trust fund, P3s, surface transportation
No Comments »
ASCE Statement on the Build America Investment Initiative
July 17th, 2014 | By: Becky Moylan
Washington, D.C. — The following is a statement from Randall (Randy) S. Over, P.E., F.ASCE, president, ASCE on the Build America Investment Initiative: “Today’s action by President Obama to launch the Build America Investment Initiative comes at a critical time as we witness Congress still debating how to provide a long-term, sustainable solution to the federal Highway Trust Fund. While private sector financing can by no means replace public funding, states and localities urgently need all of the best tools available to provide transportation solutions for their communities. “The newly-created Build America Transportation Investment Center can play a vital role in sharing best public-private partnerships (P3s) practices and encouraging more states to utilize P3s to a greater degree, thereby creating a more robust U.S. market and attracting private sector investment in our nation’s transportation infrastructure. “ASCE looks forward to working with the Obama Administration to positively implement this action in the coming weeks and months. ASCE supports a comprehensive funding and financing program for operating, maintaining, and improving the nation’s transportation system, which includes P3s, infrastructure banks, bonding and other innovative financing mechanisms. If utilized appropriately, these financing mechanisms can help leverage available transportation funding and play an important role in delivering projects and managing assets effectively.”###
Founded in 1852, the American Society of Civil Engineers represents more than 145,000 civil engineers worldwide and is America’s oldest national engineering society. For more information, visit www.asce.org.Tags: ASCE, bridges, Build America Investment Initative, congress, highway trust fund, infrastructure, P3s, roads, surface transportation, White House
No Comments »
