A statement submitted by AMWA for the record of an April 7 Senate hearing on water infrastructure financing mechanisms called on Congress to deliver strong funding for the Drinking Water State Revolving Fund (DWSRF) and Water Infrastructure Finance and Innovation Act (WIFIA) pilot program, while also preserving access to low-cost capital via tax-exempt municipal bonds.
AMWA’s statement from Chief Executive Officer Diane VanDe Hei was submitted for the record of a Senate Environment and Public Works (EPW) Committee hearing on the federal government’s role in maintaining access to affordable water infrastructure financing. The hearing featured testimony from a range of water sector stakeholders who generally agreed on the importance of a continued federal commitment to helping communities carry out water and wastewater projects that benefit public health and ensure compliance with federal water quality standards.
Key requests in AMWA’s statement included:
- An FY17 appropriation of $4 billion for the SRFs, evenly divided between the drinking water and clean water programs;
- A full FY17 appropriation of $35 million for the new WIFIA pilot program, which could be leveraged into as much as $2.1 billion worth of loans for large scale water infrastructure projects across the country.
- Permanently extending the WIFIA pilot program, or at minimum extending the pilot for at least two years beyond is currently scheduled conclusion in the 2019 fiscal year.
- Maintaining existing provisions in the tax code that exempt interest earned on municipal bonds from federal income tax.
Speaking during the hearing, EPW Committee Chairman James Inhofe (R-Okla.) said the committee plans to consider water infrastructure funding legislation before the end of April in conjunction with a Water Resources Development Act (WRDA) reauthorization bill (see related story).