U.S. Rep. Norma J. Torres (D-CA) recently introduced two bills addressing infrastructure funding, which coincides with Infrastructure Week 2017.
The Regional Infrastructure Accelerator Act would be used to attract outside financing. Multi-state “Regional Infrastructure Accelerators” would match projects with interested investors and assist local and state governments with preliminary design, feasibility analyses, and other required studies needed in the project-planning phase.
The accelerators also would develop regional strategic planning and best practices, with the intention of helping existing infrastructure projects make best use of funds.
The American Infrastructure Opportunity Bonds Act would set a trigger that would instruct the Department of Treasury to begin borrowing. The trigger would go into effect when interest rates on Treasury bills and bonds drop below the inflation rate. The borrowed funds only would be used on infrastructure investments.
“In California and across this country, bridges are crumbling, traffic is worsening, and roads and rail networks can’t to keep up with shipping demands,” Torres said. “With our nation’s infrastructure funding gap continuing to grow, it has become abundantly clear that we need to find new and innovative ways to upgrade and maintain our nation’s roads, bridges, and water facilities. These two bills will do just that.”