Governors Acknowledge Every Funding Option Necessary for Infrastructure
A toolkit of options for financing big-ticket infrastructure projects is required to compensate for lack of federal funding, governors noted in a policy outline for 2017.
“Facilitating investment in infrastructure projects through existing and new self-sustaining financing mechanisms can help mitigate public-funding shortfalls, particularly where there are sufficient estimated traffic levels,” the National Governors Association announced on March 2, while noting a need for reliable funding programs from the federal level.
“The ability of state and local governments to plan and execute long-term, multi-year projects hinges on predictable federal funding,” the governors added.
They expressed concern over infrastructure funding when they met with President Trump and Congress in Washington on Feb. 27. “There’s got to be additional revenues and states will have to come up with additional resources. The federal government will have to come up with additional resources,” Gov. John Hickenlooper (D-Colo.) told reporters after they met with the president at the White House.
The next day, Trump called on Congress to approve a $1 trillion infrastructure investment plan that would combine public and private dollars.
On March 8, the Senate subcommittee charged with funding transportation programs is scheduled to meet with representatives from the U.S. Chamber of Commerce and the American Association of State Highway and Transportation Officials to debate options for funding infrastructure projects.
