Hoeven: Move America Act Gives States Flexibility, Lowers Infrastructure Costs Through Public-Private Partnerships
Committee Panel Supports Hoeven-Wyden Legislation
WASHINGTON – At a recent hearing of the Senate Appropriations Committee on Transportation, Senator John Hoeven outlined the Move America Act, legislation he plans to reintroduce with Senator Ron Wyden (D-Ore.). The committee panel expressed support for the measure, which expands tax-exempt bonds for public-private partnerships and creates a new infrastructure tax credit. These are important tools that will help advance infrastructure projects around the country, including highways, airports, broadband and flood protection. This will save taxpayer dollars by attracting private investment and lowering borrowing costs, giving states flexibility to construct the infrastructure they need.
“Our nation needs robust investment in our infrastructure, and we are continuing our efforts to advance a legislative package to do this,” Hoeven said. “While it is important to ensure the long-term funding of the highway trust fund, we are also working to make the Move America Act part of this package. Our legislation helps extend taxpayer dollars by bringing in that private investment and lowering overall costs. Further, it gives states and localities the discretion and flexibility to build the projects they need, whether its bridges, airports or flood control, and finance them in a way works best for them.”
The Move America Act is supported by the U.S. Chamber of Commerce, Business Roundtable, American Association of State Highway Transportation Officials, American Road and Transportation Builders, American Association of Port Authorities, Airports Council International Laborers’ International Union of North America, Association for the Improvement of American Infrastructure, Securities Industry and Financial Markets Association (SIFMA) and the North Dakota Association of Telecommunications Cooperatives.
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