Current highway funding reauthorization bill would discourage infrastructure investment

Rick Geddes is an associate professor in the Department of Policy Analysis and Management at Cornell University, and the founding director of the Cornell Program in Infrastructure Policy. His research focuses on innovative funding and financing of major infrastructure projects, particularly in the transportation and water sectors. He believes the U.S. infrastructure challenge is creating the funding streams necessary to attract financing.

Geddes says:
“America’s main policy challenge today is to create the reliable funding streams necessary to efficiently operate and maintain a vast, mature road network. The current highway funding reauthorization measure before Congress would instead cut Transportation Infrastructure Finance and Innovation Act funding by as much as 80 percent. That would likely stunt private investment in U.S. infrastructure.

“The United States has an infrastructure funding, not a financing, problem: investors around the world are eager to invest in U.S. infrastructure once proper funding is in place.”

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