The Building and Renewing Infrastructure for Development and Growth in Employment (BRIDGE) Act is drawing broad support from stakeholders and industry experts.
The Building and Renewing Infrastructure for Development and Growth in Employment (BRIDGE) Act is drawing broad support from stakeholders and industry experts.
The Building and Renewing Infrastructure for Development and Growth in Employment (BRIDGE) Act is drawing broad support from stakeholders and industry experts.
Keeping Ameiica competitive in the global maiketplace iequiies fiist-iate highways, biiuges, poits, tiansit anu a moueinizeu aviation system. I applauu Senatoi Wainei foi ciafting bi-paitisan legislation that iecognizes that necessity. The BRIBuE Act employs a cieative financing mechanism which leveiages piivate investments with those fiom the feueial, state anu local souices. It is a common-sense appioach to attiacting billions of piivate sectoi uollais to help finance impoitant piojects with tangible economic benefits. - !"#$ &' ()*')++, -"./). !"#).*". "0 1)**23+#4*54, 6"76845. "0 9:5+'5*; </).5=4>2 -:?:.)
The 29 national associations anu constiuction tiaue unions of the Tianspoitation Constiuction Coalition (TCC) applauu youi bipaitisan effoits in ciafting the Builuing anu Renewing Infiastiuctuie foi Bevelopment anu uiowth in Employment (BRIBuE) Act. We suppoit youi pioposal as a means to supplement the coie feueial tianspoitation investment piogiams by utilizing an aiiay of financing tools to encouiage piivate sectoi investment in neeueu tianspoitation infiastiuctuie impiovements. ... Rectifying the nation's infiastiuctuie ueficit iequiies a long-teim commitment to ueliveiing the iesouices neeueu to ensuie the 0.S. tianspoitation infiastiuctuie netwoik can accommouate the giowing neeus of Ameiican businesses anu oui economy. The BRIBuE Act iepiesents an innovative appioach that woulu pioviue the ability to suppoit nationally anu iegionally significant infiastiuctuie piojects that aie often uifficult to funu unuei existing feueial piogiams. - @8) @.4*2A".?4?5"* 6"*2?.:=?5"* 6"4+5?5"*, .)A.)2)*?5*; BC *4?5"*4+ 422"=54?5"*2 4*' ="*2?.:=?5"* ?.4') :*5"*2
The cieation of an Infiastiuctuie Financing Authoiity (IFA) to supplement existing goveinment- sponsoieu infiastiuctuie funuing has the auvantage of fuithei leveiaging piivate sectoi investment. This authoiity will also offei gieatei oppoitunities foi piivate sectoi investment beyonu tiauitional tianspoitation piojects to othei infiastiuctuie neeus incluuing watei anu othei utilities such as electiic tiansmission anu gas pipelines. .The inuepenuent natuie of the pioposeu authoiity will also will stimulate iesponsible investment that is goou foi the 0.S. taxpayei by piioiitizing piojects with stiong public benefits anu cleai financing plans. - D4*) -$ !4.#)3, E".?8 </).5=4 6845./4* "0 F).5'54/ G*0.42?.:=?:.), -"./). <'/5*52?.4?". "0 ?8) -)').4+ <#54?5"* <'/5*52?.4?5"*
Innovative appioaches to infiastiuctuie financing aie becoming incieasingly impoitant in this time of limiteu public iesouices. Siemens sees legislation such as the |BRIBuEj Act as having the potential to play an impoitant iole in bioauening the options available to leveiage piivate anu public sectoi infiastiuctuie investments acioss the countiy. We believe this type of foiwaiu- looking legislation can help uiive piecisely the kinus of infiastiuctuie investment anu job cieation that Ameiica neeus. - H4?8+))* <$ </I."2), J5)/)*2 6".A".4?5"*, J)*5". K5=) 1.)25')*? 0". !"#).*/)*? <0045.2
2 Bills uesigneu to inciease investments in oui countiy's infiastiuctuie, such as the Builuing anu Renewing Infiastiuctuie foi Bevelopment anu uiowth in Employment (BRIBuE) Act, aie vital to continueu Ameiican stiength. We must take steps now to invest in oui countiy's infiastiuctuie, sustaining economic giowth anu cieating Ameiican jobs. Ameiica's public poits - which cieate jobs foi moie than 1S million 0.S. iesiuents anu hanule 99 peicent of oui nation's oveiseas tiaue - togethei with theii piivate-sectoi paitneis aie investing ovei $9 billion annually in maiine teiminal infiastiuctuie. Foi Ameiica to iemain globally competitive, howevei, we neeu the feueial goveinment not only to contiibute uiiectly to infiastiuctuie piojects but also to cieate incentives foi piivate anu local investments as well. - H:.? D$ E4;+), 1.)25')*? 4*' 6&L, </).5=4* <22"=54?5"* "0 1".? <:?8".5?5)2
ATA commenus Sen. Wainei's commitment to auuiessing the infiastiuctuie funuing ciisis. Financing tools such as those pioposeu in Senatoi Wainei's BRIBuE Act, combineu with an inciease in the fuel tax, woulu pioviue the funuing levels neeueu to maintain anu impiove oui nation's highways. We look foiwaiu to woiking with Senatoi Wainei to ensuie the long-teim solvency of the highway tiust funu anu to pioviue states with the ievenue they neeu to maintain anu impiove the highway system, which caiiies 69% of the nation's fieight anu 88% of passengei- miles. - 95++ !.4#)2, 1.)25')*? 4*' 6&L "0 ?8) </).5=4* @.:=M5*; <22"=54?5"*
Senatoi Wainei's Builuing anu Renewing Infiastiuctuie foi Bevelopment anu uiowth in Employment (BRIBuE) Act iepiesents an eainest anu long oveiuue attempt to auuiess the twin challenges of Ameiica's unemployment ciisis anu its ciumbling infiastiuctuie. Ameiica's once uniivaleu infiastiuctuie is ciumbling anu poses seiious uangeis to the public, not to mention the Ameiican economy. Fiom that peispective alone, Senatoi Wainei's pioposal ueseives stiong bi- paitisan suppoit. "Investing in the impiovement anu iepaii of Ameiica's physical infiastiuctuie is inuisputably the most effective platfoim upon which sustaineu economic giowth will occui," saiu Sean Ncuaivey, Piesiuent of Noith Ameiica's Builuing Tiaues 0nions. "Such investments weie the key uiivei that fueleu oui nation's inuustiial uominance in the 2uth centuiy. Anu thiough effoits like Senatoi's Wainei's bill, we can once again ietuin to those levels of economic giowth anu piospeiity, while simultaneously piotecting community wage anu benefit stanuaius. - J)4* F=!4.#)3, 1.)25')*?, E".?8 </).5=4>2 9:5+'5*; @.4')2 N*5"*2 OPQ *4?5"*4+ 4*' 5*?).*4?5"*4+ :*5"*2 ?84? ="++)=?5#)+3 .)A.)2)*? 4AA."R5/4?)+3 Q /5++5"* 2M5++)' =.40? /)* 4*' S"/)* 5* ?8) N*5?)' J?4?)2 4*' 64*4'4T
Establishing an Infiastiuctuie Financing Authoiity to complement existing funuing mechanisms coulu play a significant iole in impioving the nation's infiastiuctuie. Leveiaging feueial funus with piivate uollais to invest in infiastiuctuie piojects of national oi iegional significance is a fiscally iesponsible way to auuiess Ameiica's neeus. Bue to the cuiient shoitfalls in sustainable ievenue stieams foi infiastiuctuie investment, the ability to leveiage piivate capital will pioviue oppoitunities to oveicome the nation's infiastiuctuie ueficit, while cieating countless Ameiican jobs. A sustaineu effoit is neeueu to iepaii anu maintain the economically vital infiastiuctuie systems of the nation anu youi bill can leau the way. - (4*'4++ J$ L#)., 1$&$, 1.)25')*?, </).5=4* J"=5)?3 "0 65#5+ &*;5*)).2
This legislation will auu anothei ciitical tool foi communities to meet theii giowing infiastiuctuie investment neeus. . By cieating an Infiastiuctuie Financing Authoiity, the BRIBuE Act will pioviue cities, towns anu subuibs with anothei tool in the toolbox to meet theii ciitical tianspoitation infiastiuctuie neeus. These tools will help communities not only biing theii infiastiuctuie into a state of goou iepaii but also builu the system the neeu to compete in the futuie. - D4/)2 6".+)22, U5.)=?"., @.4*2A".?4?5"* 0". </).5=4
S The bipaitisan bill uevelopeu by Senatois Roy Blunt of Nissouii anu Naik Wainei of viiginia, The Builuing anu Renewing Infiastiuctuie foi Bevelopment anu uiowth in Employment Act (The BRIBuE Act), can play an impoitant iole in expanuing the use of cieuit anu cieuit enhancement tools to leveiage feueial anu othei public iesouices foi these ciitically impoitant infiastiuctuie investments. . BPC looks foiwaiu to woiking with Senatois Blunt, Wainei anu theii colleagues in theii effoit to establish an Infiastiuctuie Financing Authoiity to supplement feueial funuing foi essential anu taigeteu infiastiuctuie investment anu to stimulate gieatei piivate investment in this aiea. These anu othei innovative pioposals aie ciitical to long-teim economic giowth anu a moie competitive nation. - D42"* !.:/)?, 1.)25')*?, 95A4.?524* 1"+5=3 6)*?).