ASCE Submits Official Statement for the Record to Senate Finance Committee on Transportation Infrastructure Financing
From ASCE Statement on “Unlocking the Private Sector: State Innovations in Financing Transportation Infrastructure”:
“There is an urgent and timely discussion taking place about the future of federal transportation funding and the need to secure long-term, sustainable funding to support the federal Highway Trust Fund (HTF). Given yesterday’s positive action by the U.S. Senate Environment and Public Works (EPW) Committee, there exists now heightened urgency on the Finance Committee to accommodate funding levels that can provide six years of growth for the federal highway and transit program.
Private sector financing of transportation projects does not help address the current HTF funding challenge. However, coupled with a strong federal, state and local funding program, innovative financing mechanisms can help fill transportation infrastructure gaps by leveraging tax revenues and user fees. Funding cannot be separated from the financing discussion because the availability of private sector capital, or ability of governments to repay transportation-related debts, is tied to public acceptance to pay more in tolls fees or taxes…”