White House Pushes Infrastructure Spending; Requests $2.3 Billion for SRFs in 2016

White House Pushes Infrastructure SpendingThe White House has requested?$2.3 billion for the Drinking Water and Clean Water State Revolving Funds as part of the FY2016 budget for the U.S. Environmental Protection Agency (EPA).

The EPA would also get an additional?$50 million to help communities, states and private investors finance improvements in drinking water and wastewater infrastructure. This includes $7 million for the?newly established Water Infrastructure and Resiliency Finance Center, which aims to?identify financing opportunities for small communities and?leverage private sector investments to improve aging water systems at the local level.

EPA?s proposed budget defines the agency?s program goals for fiscal year 2016?(Oct. 1, 2015 to Sept. 30, 2016) and associated resource requirements. The EPA clarified some of its goals and proposed funding.
According to EPA, the agency?s proposed budget of $8.6 billion seeks to further key work in addressing climate change and improving air quality, protecting water, safeguarding the health and safety of the public from toxic chemicals, supporting the environmental health of communities, and working toward a sustainable environmental future for all Americans. Central to this work, says EPA, is supporting state, local, and tribal partners and working with them to deliver environmental and health improvements.

The requested SRF funding is the latest in a string of recent spending initiatives announced by the White House. Last month, the Obama administration announced new steps federal agencies are taking to attract private money for projects to upgrade roads, bridges and other infrastructure.

The above-mentioned Water Infrastructure and Resiliency Finance Center at the EPA will work with state and local governments, utilities and the private sector to use federal grants to leverage private capital to address more than $600 billion in needs for drinking water and wastewater management over the next 20 years. A separate Agriculture Department program, the Rural Opportunity Investment Initiative, will be aimed at attracting private funding for rural projects and improving access to USDA credit programs.

The administration is also proposing to create a new municipal bond for public-private partnerships. Vice President Joe Biden discussed the importance of modern infrastructure after touring a water project for DC Water designed to reduce the flow of billions of gallons of contaminated sewer water into the Anacostia River.
?If we?re going to lead the world in the 21st century, and we are leading the world in the 21st century, we have to have the most modern infrastructure in the world,? Biden said, adding that businesses don?t want to locate in places where water is dirty, bridges aren?t up to date or there are no connections to railways.

It has been several years since Congress has passed a long-term measure to pay for spending on highways and other projects. Last year, President Obama put forward a $302 billion, four-year proposal partly paid for by overhauling the corporate tax system, but the proposal stalled on Capitol Hill.

Obama, Biden and other officials argue that U.S. competitiveness is being hindered by aging infrastructure. They say projects to replace or upgrade infrastructure will help the economy and create jobs.

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White House Pushes Infrastructure Spending; Requests $2.3 Billion for SRFs in 2016

The White House has requested?$2.3 billion for the Drinking Water and Clean Water State Revolving Funds as part of the FY2016 budget for the U.S. Environmental Protection Agency (EPA).
?
The EPA would also get an additional?$50 million to help communities, states and private investors finance improvements in drinking water and wastewater infrastructure, including $7 million for the?newly established Water Infrastructure and Resiliency Finance Center, which aims to?identify financing opportunities for small communities and?leverage private sector investments to improve aging water systems at the local level.

EPA?s proposed budget defines the agency?s program goals for fiscal year 2016?(Oct. 1, 2015 to Sept. 30, 2016) and associated resource requirements. The EPA clarified some of its goals and proposed funding.
??????
According to EPA, the agency?s proposed budget of $8.6 billion seeks to further key work in addressing climate change and improving air quality, protecting water, safeguarding the health and safety of the public from toxic chemicals, supporting the environmental health of communities, and working toward a sustainable environmental future for all Americans. Central to this work, says EPA, is supporting state, local, and tribal partners and working with them to deliver on our environmental and health improvements.
??????
The requested SRF funding is the latest in a string of recent spending initiatives announced by the White House. Last month, the Obama administration announced new steps federal agencies are taking to attract private money for projects to upgrade roads, bridges and other infrastructure.

The above-mentioned Water Infrastructure and Resiliency Finance Center at the EPA will work with state and local governments, utilities and the private sector to use federal grants to leverage private capital to address more than $600 billion in needs for drinking water and wastewater management over the next 20 years. A separate Agriculture Department program, the Rural Opportunity Investment Initiative, will be aimed at attracting private funding for rural projects and improving access to USDA credit programs.

The administration is also proposing to create a new municipal bond for public-private partnerships. Vice President Joe Biden discussed the importance of modern infrastructure after touring a water project for DC Water designed to reduce the flow of billions of gallons of contaminated sewer water into the Anacostia River.

?If we’re going to lead the world in the 21st century, and we are leading the world in the 21st century, we have to have the most modern infrastructure in the world,? Biden said, adding that businesses don’t want to locate in places where water is dirty, bridges aren’t up to date or there are no connections to railways.

It has been several years since Congress has passed a long-term measure to pay for spending on highways and other projects. Last year, President Obama put forward a $302 billion, four-year proposal partly paid for by overhauling the corporate tax system, but the proposal stalled on Capitol Hill.

Obama, Biden and other officials argue that U.S. competitiveness is being hindered by aging infrastructure. They say projects to replace or upgrade infrastructure will help the economy and create jobs.
?

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