Originally posted on warner.senate.gov
Keeping America competitive in the global marketplace requires first-rate highways, bridges, ports, transit and a modernized aviation system. I applaud Senator Warner for crafting bi-partisan legislation that recognizes that necessity. The BRIDGE Act employs a creative financing mechanism which leverages private investments with those from the federal, state and local sources. It is a common-sense approach to attracting billions of private sector dollars to help finance important projects with tangible economic benefits.
– Gov. Ed Rendell, Former Governor of Pennsylvania, Co-Chair of Building America’s Future
The creation of an Infrastructure Financing Authority (IFA) to supplement existing government-sponsored infrastructure funding has the advantage of further leveraging private sector investment. This authority will also offer greater opportunities for private sector investment beyond traditional transportation projects to other infrastructure needs including water and other utilities such as electric transmission and gas pipelines. …The independent nature of the proposed authority will also will stimulate responsible investment that is good for the U.S. taxpayer by prioritizing projects with strong public benefits and clear financing plans.
– Jane F. Garvey, North America Chairman of Meridiam Infrastructure, Former Administrator of the Federal Aviation Administration
The 29 national associations and construction trade unions of the Transportation Construction Coalition (TCC) applaud your bipartisan efforts in crafting the Building and Renewing Infrastructure for Development and Growth in Employment (BRIDGE) Act. We support your proposal as a means to supplement the core federal transportation investment programs by utilizing an array of financing tools to encourage private sector investment in needed transportation infrastructure improvements. … Rectifying the nation’s infrastructure deficit requires a long-term commitment to delivering the resources needed to ensure the U.S. transportation infrastructure network can accommodate the growing needs of American businesses and our economy. The BRIDGE Act represents an innovative approach that would provide the ability to support nationally and regionally significant infrastructure projects that are often difficult to fund under existing federal programs.
– The Transportation Construction Coalition, representing 29 national associations and construction trade unions
Innovative approaches to infrastructure financing are becoming increasingly important in this time of limited public resources. Siemens sees legislation such as the [BRIDGE] Act as having the potential to play an important role in broadening the options available to leverage private and public sector infrastructure investments across the country. We believe this type of forward-looking legislation can help drive precisely the kinds of infrastructure investment and job creation that America needs.
– Kathleen A. Ambrose, Siemens Corporation, Senior Vice President for Government Affairs
Bills designed to increase investments in our country’s infrastructure, such as the Building and Renewing Infrastructure for Development and Growth in Employment (BRIDGE) Act, are vital to continued American strength. We must take steps now to invest in our country’s infrastructure, sustaining economic growth and creating American jobs. America’s public ports – which create jobs for more than 13 million U.S. residents and handle 99 percent of our nation’s overseas trade – together with their private-sector partners are investing over $9 billion annually in marine terminal infrastructure. For America to remain globally competitive, however, we need the federal government not only to contribute directly to infrastructure projects but also to create incentives for private and local investments as well.
– Kurt J. Nagle, President and CEO, American Association of Port Authorities
ATA commends Sen. Warner’s commitment to addressing the infrastructure funding crisis. Financing tools such as those proposed in Senator Warner’s BRIDGE Act, combined with an increase in the fuel tax, would provide the funding levels needed to maintain and improve our nation’s highways. We look forward to working with Senator Warner to ensure the long-term solvency of the highway trust fund and to provide states with the revenue they need to maintain and improve the highway system, which carries 69% of the nation’s freight and 88% of passenger-miles.
– Bill Graves, President and CEO of the American Trucking Association
Senator Warner’s Building and Renewing Infrastructure for Development and Growth in Employment (BRIDGE) Act represents an earnest and long overdue attempt to address the twin challenges of America’s unemployment crisis and its crumbling infrastructure. America’s once unrivaled infrastructure is crumbling and poses serious dangers to the public, not to mention the American economy. From that perspective alone, Senator Warner’s proposal deserves strong bi-partisan support. “Investing in the improvement and repair of America’s physical infrastructure is indisputably the most effective platform upon which sustained economic growth will occur,” said Sean McGarvey, President of North America’s Building Trades Unions. “Such investments were the key driver that fueled our nation’s industrial dominance in the 20th century. And through efforts like Senator’s Warner’s bill, we can once again return to those levels of economic growth and prosperity, while simultaneously protecting community wage and benefit standards.”
– Sean McGarvey, President, North America’s Building Trades Unions (national and international unions that collectively represent approximately 3 million skilled craft men and women in the United States and Canada)
Establishing an Infrastructure Financing Authority to complement existing funding mechanisms could play a significant role in improving the nation’s infrastructure. Leveraging federal funds with private dollars to invest in infrastructure projects of national or regional significance is a fiscally responsible way to address America’s needs. Due to the current shortfalls in sustainable revenue streams for infrastructure investment, the ability to leverage private capital will provide opportunities to overcome the nation’s infrastructure deficit, while creating countless American jobs. A sustained effort is needed to repair and maintain the economically vital infrastructure systems of the nation and your bill can lead the way.
– Randall S. Over, P.E., President, American Society of Civil Engineers
This legislation will add another critical tool for communities to meet their growing infrastructure investment needs. … By creating an Infrastructure Financing Authority, the BRIDGE Act will provide cities, towns and suburbs with another tool in the toolbox to meet their critical transportation infrastructure needs. These tools will help communities not only bring their infrastructure into a state of good repair but also build the system the need to compete in the future.
– James Corless, Director, Transportation for America
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. … 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.
– Jason Grumet, President, Bipartisan Policy Center
The BRIDGE Act presents leadership of the Federal government with the opportunity to advance the state of infrastructure in the United States. The Infrastructure Financing Authority can provide the credit facility and oversight in support of the improvement of infrastructure in the United States. This bill can increase the speed of delivery, capacity and longevity of financing tools available for Public Private Partnerships. The BRIDGE Act serves the public interest.
– William Marino, Chairman and Richard Fierce, President AIAI – the Association for the Improvement of American Infrastructure
View original post: warner.senate.gov
Tags: BRIDGE Act, Building and Renewing Infrastructure for Development and Growth in Employment, Infrastructure Bill, Mark R. Warner, Senate, Senator Warner
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