The document outlines:
· The Importance of Infrastructure
The President has consistently emphasized that the Nation’s infrastructure needs to be rebuilt and modernized to create jobs, maintain America’s economic competitiveness, and connect communities and people to more opportunities. The United States no longer has the best infrastructure in the world. For example, according to the World Economic Forum, the United States’ overall infrastructure places 12th, with countries like Japan, Germany, the Netherlands, and France ranking above us. This underperformance is evident in many areas, from our congested highways, which costs the country $160 billion annually in lost productivity, to our deteriorating water systems, which experience 240,000 water main breaks annually.
· The Current System is Not Working
· The Administration’s Goal: Seek and Secure Long-Term Changes
· Key Principles, including:
· Make Targeted Federal Investments
· Encourage Self-Help
· Align Infrastructure Investment with Entities Best Suited to Provide Sustained and Efficient Investment
· Leverage the Private Sector
· 2018 Budget (includes $200 billion in outlays related to the infrastructure initiative), in addition to the following proposals:
· Air Traffic Control Corporation
· Increase Infrastructure Flexibility at VA
· Divestiture of the Power Marketing Administration’s Transmission Assets
· Reform the laws governing the Inland Waterways Trust Fund.
· The Budget proposes to reform the laws governing the Inland Waterways Trust Fund, including by establishing a fee to increase the amount paid by commercial navigation users of inland waterways. In 1986, the Congress mandated that commercial traffic on the inland waterways be responsible for 50 percent of the capital costs of the locks,
dams, and other features that make barge transportation possible on the inland waterways. The additional revenue proposed in the Budget will finance future capital investments in these waterways to support economic growth.
· Illustrative Examples of Funding Proposals
· Expand the Transportation Infrastructure Finance and Innovation Act (TIFIA) Program.
· Lift the Cap on Private Activity Bonds and Expand Eligibility to Other Non-Federal Public Infrastructure.
· Incentivize Innovative Approaches to Congestion Mitigation.
· Liberalize Tolling Policy and Allow Private Investment in Rest Areas.
· Fund the Water Infrastructure Finance and Innovation Act (WIFIA) Program.
· Encourage the Use of Army Corps of Engineers (CORPS) Contributed/Advanced Funding Authorities.
· New Federal Tools:
· Federal Capital Revolving Fund.
· Partnership Grants for Federal Assets.
· Environmental Review and Permitting Process Enhancements:
· Improving Environmental Performance.
· One Federal Decision.
· Unnecessary Approvals.
· Judicial Reform. Again, you can access the full document here. It can also be obtained from the White House Office of Management and Budget website: https://www.whitehouse.gov/omb/budget/fact_sheets