Tuesday, June 27, 2017

Curbelo proposal would boost water infrastructure projects

Rep. Carlos Curbelo (R-FL)
U.S. Rep. Carlos Curbelo (R-FL) recently introduced the WIFIA Improvement Act, which seeks to update the Water Infrastructure Finance and Innovation Act (WIFIA) program and boost investment in water infrastructure projects.

“While WIFIA can finance up to 49 percent of eligible projects, a current limitation prevents these loans from being combined with tax-exempt bonds, resulting in the program's operation being severely impaired,” Curbelo said. “This prohibition undermines WIFIA as a tool to advance water infrastructure projects. By repealing the limitation on tax-exempt bonds, critical improvements to our nation’s drinking water and wastewater systems can be made.”

The program was created in 2014 by the Water Resources Reform And Development Act. Ideally it would use small amounts of federal funds collected from multiple sources to promote water infrastructure improvements and development.

“Making this common sense fix to the WIFIA program will encourage investment and create jobs in South Florida,” Curbelo said. “Americans need innovative, low cost solutions to meet the great demands placed on large water infrastructure systems, and this bill is an excellent start.”

Organizations in this story

U.S. Representative Carlos Curbelo (FL-26) 12851 Southwest 42nd Street Miami, FL 33175

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