Washington, D.C. – The following is a statement by Jason Grumet, president of the Bipartisan Policy Center:
“In a series of reports, the Bipartisan Policy Center (BPC) has noted for some time that federal funding for investment in infrastructure has stagnated, if not declined, over the last several years. This decline has occurred despite a growing recognition that America is under-investing in its infrastructure. In the face of these trends, BPC has called for an expansion of federal financing programs to more effectively leverage other private and public capital for investment in infrastructure.
“The bipartisan bill developed by Senators Roy Blunt of Missouri and Mark Warner of Virginia, The Building and Renewing Infrastructure for Development and Growth in Employment Act (The BRIDGE Act), 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. 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.’
“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. These and other innovative proposals are critical to long-term economic growth and a more competitive nation.”
The Bipartisan Policy Center’s National Transportation Policy Project created a dynamic and enduring vision for the future of federal surface transportation policy in 2011. Read the report here.