The Bipartisan Policy Coalition called on Congress to expand federal financing to programs that leverage private and public capital for investment in infrastructure, citing a decline in funding designated for maintaining public roads, utilities and other resources.
BPC President Jason Grumet touted legislation crafted by Sens. Roy Blunt (R-Mo.) and Mark Warner (D-Va.)—the Building and Renewing Infrastructure for Development and Growth in Employment, or BRIDGE, Act.
“The bipartisan bill… can play an important role in expanding the use of credit and credit enhancement tools to leverage federal and other public resources for these critically important infrastructure investments,” Grumet said. “As Jane Garvey, former Federal Aviation Administrator, and member of BPC’s Board of Directors noted, ‘Innovative solutions are needed to meet the financial challenges of maintaining and improving our national infrastructure.’”
The organization released a report in June 2011 on the need for additional or altered funding for programs that ensure the maintenance and construction of infrastructure, saying it is “more important than ever” to ensure that all federal funding directed towards transportation and transportation needs is invested wisely.
“BPC looks forward to working with Senators Blunt, Warner and their colleagues in their effort to establish an Infrastructure Financing Authority to supplement federal funding for essential and targeted infrastructure investment and to stimulate greater private investment in this area,” the BPC said. “These and other innovative proposals are critical to long-term economic growth and a more competitive nation.”