The Bipartisan Policy Center (BPC) recently launched the Executive Council on Infrastructure to answer the question of how to better attract private capital investment in American infrastructure. Our nation’s continued economic prosperity rests on the quality of our infrastructure, but investments fall dramatically short of what is needed. The funding gap over the next five years is estimated at $2 trillion, a figure that no level of direct government funding will be able to meet. Thus, the conversation has turned to how to finance infrastructure investment, including what role the federal government can play.
Senators Ron Wyden (D-OR) and John Hoeven (R-ND) are tackling this problem with new bipartisan legislation, the Move America Act. Their legislation creates a new federal infrastructure financing tool to add to the toolbox as we figure out how to fix our nation’s infrastructure. While many believe new tools are needed, Congress has struggled to actually create them. Will the expiration of the Highway Trust Fund at the end of July provide the impetus to finally fix the problem, or will we simply kick the can further down the road?
BPC hosted a conversation in which the senators offered their views on the prospects for action on infrastructure finance during the remainder of this Congress.
Senator John Hoeven (R-ND)
Senator Ron Wyden (D-OR)
Vice President of Communications, BPC