| 来源类型 | Testimony
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| 规范类型 | 其他
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| America’s Infrastructure: Today’s Gaps, Tomorrow’s Opportunities, and the Need for Federal Investment |
| R. Richard Geddes
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| 发表日期 | 2019-09-27
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| 出版年 | 2019
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| 语种 | 英语
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| 摘要 | Chairman Yarmuth, Ranking Member Womack, distinguished Members of the Committee: Thank you for the opportunity to submit testimony to the Budget Committee of the U.S. House of Representatives on the topic of America’s infrastructure. I am R. Richard Geddes, Professor in the Department of Policy Analysis and Management at Cornell University, Founding Director of the Cornell Program in Infrastructure Policy, and Visiting Scholar at the American Enterprise Institute. I am a member of the Revenue and Finance Committee of the Transportation Research Board. I was also a member of the National Surface Transportation Policy and Revenue Study Commission, which reported its findings to Congress in 2008. My testimony has five main points:
1. American faces challenges in both the funding and the financing of its infrastructure. Although those concepts are related, they should be distinguished and addressed separately. The funding of U.S. infrastructure is the most pressing concern.
2. Under its current structure, the Highway Trust Fund is not sustainable, for several reasons. The Fund, which has required several general fund bailouts, is projected to experience severe deficits in the future. Responsibility for infrastructure funding will, by default, devolve to the state and local governments that own most transportation infrastructure assets.
3. Absent new large federal revenues, the federal role should be to facilitate the enhanced funding, financing, and permitting of infrastructure by state and local asset owners. Infrastructure delivery can be facilitated by streamlining the National Environmental Policy Act (NEPA) process, for example.
4. New federal policies can assist state and local governments with infrastructure funding. Those include relaxing restrictions on tolling and mileage-based user fees as well as encouraging innovative policies such as value capture and assetrecycling.
5. New federal policies can also assist state and local governments with infrastructure financing. Those include policies to encourage greater use of public-private partnerships, or PPPs. Policies include expanding the cap on, and use of, private activity bonds, as well as the creation of state and regional PPP units. Greater PPP use also provides enhanced investment opportunities for large investors such as public pension funds that do not find traditional tax-exempt investments as appealing. I discuss each point below. |
| URL | https://www.aei.org/research-products/testimony/americas-infrastructure-todays-gaps-tomorrows-opportunities-and-the-need-for-federal-investment/
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| 来源智库 | American Enterprise Institute (United States)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/209918
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推荐引用方式
GB/T 7714 |
R. Richard Geddes. America’s Infrastructure: Today’s Gaps, Tomorrow’s Opportunities, and the Need for Federal Investment. 2019.
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文件名：
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Geddes-infrastructure-testimony.pdf
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格式：
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Adobe PDF
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