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White House Press Office

The “Rebuild America Partnership”: The President’s Plan to Encourage Private Investment in America’s Infrastructure

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By The White House

Investing in infrastructure not only makes our roads, bridges, and ports safer and gives our businesses and workers the tools to compete successfully in the global economy, it also creates thousands of good American jobs that cannot be outsourced. Since the President took office four years ago, America has begun the hard work of rebuilding our infrastructure: American workers have improved over 350,000 miles of U.S. roads and more than 6,000 miles of rail, and they have repaired or replaced over 20,000 bridges. But there’s more to do, and taxpayers shouldn’t have to shoulder the entire burden themselves.

We know that America works best when it’s calling upon the resources and ingenuity of our vibrant private sector. That’s why the President’s plan calls for a Rebuild America Partnership to help attract the private capital that can go toward building the infrastructure our workers and businesses need most.

By acting on the President’s plan, together we can build an infrastructure that’s second-to-none and prove that there is no better place to do business and create jobs than right here in the United States of America.

• Partnering with the Private Sector to Create Jobs and Invest in the Projects We Need Most: The President is continuing to call for Congress to enact a National Infrastructure Bank capitalized with $10 billion, in order to leverage private and public capital and to invest in a broad range of infrastructure projects of national and regional significance, without earmarks or political influence.

• Giving State and Local Governments Flexible New Tools to Invest in Infrastructure: The President’s new America Fast Forward Bonds program will build upon the successful example of the Build America Bonds program, broadening its use to include the types of projects that can be financed with qualified private activity bonds while also making the combined program more flexible. In addition, the Administration is proposing changes to the Foreign Investment in Real Property Tax Act (FIRPTA) aimed at enhancing the attractiveness of investment in U.S. infrastructure and real estate to a broader universe of private investors.

• Building the Transportation Network Our Businesses and Workers Need to Succeed: In addition to the sound implementation of TIFIA’s recent eight-fold expansion, the Administration is also proposing $4 billion in new competitive funding for the innovative TIGER and TIFIA programs.

The President’s Plan to Attract Private Infrastructure Investment
Through a “Rebuild America Partnership”

Despite progress over the last four years, too many construction workers remain out of work and too many of our nation’s infrastructure needs remain unmet. The President’s new “Rebuild America Partnership” will bring together an array of new and existing policies all aimed at enhancing the role of private capital in U.S. infrastructure investment as a vital additive to the traditional roles of Federal, State, and local governments, making American workers and businesses more competitive and putting more Americans back on the job:

• Partnering with the Private Sector to Create Jobs and Invest in the Projects …read more
Source: White House Press Office

White House Press Office

Fact Sheet: The President’s Plan to Make America a Magnet for Jobs by Investing in Infrastructure

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By The White House

The President’s Plan to Make America a Magnet for Jobs by Investing in Infrastructure

Investing in infrastructure not only makes our roads, bridges, and ports safer and allows our businesses and workers to be as competitive as they need to be in the global economy, it also creates thousands of good American jobs that cannot be outsourced. Since the President took office four years ago, America has begun the hard work of rebuilding our infrastructure. But there’s more to do, and that’s why the President’s plan ensures that the money we invest in infrastructure is spent wisely by adopting a “fix-it-first” policy.

Repair and maintenance of our existing roads, bridges and public transportation systems should take priority before we consider investing in new facilities. This will ensure that our cities are safer and more modern. But taxpayers shouldn’t have to shoulder the entire burden either. We also know that America works best when we’re tapping the resources and ingenuity of a vibrant private sector.

That’s why the President’s infrastructure plan calls for a Rebuild America Partnership that will attract private capital to build the infrastructure our businesses need most. By acting on the President’s plan, together we can prove that there is no better place to do business and create jobs than right here in the United States of America.

  • Investing in a “fix-it-first” policy: The President’s plan will immediately invest $50 billion in our nation’s transportation infrastructure, with $40 billion targeted to the most urgent upgrades and focused on fixing our highways, bridges, transit systems, and airports most in need of repair.

  • Attracting private investment through a “Rebuild America Partnership”: The President’s plan will partner federal, state, and local governments with businesses and private capital to provide America with the best transportation, electric, water, and communications networks in the world.

  • Cutting red tape: The President’s plan will cut timelines in half for infrastructure projects and create incentives for better outcomes for communities and the environment through a historic modernization of agency permitting and review regulations, procedures, and policies.

The President’s Plan to Put Workers Back on the Job & Build the Infrastructure we Need to Succeed in the Global Economy

Despite progress over the last four years, too many construction workers remain out of work and too many of our nation’s infrastructure needs remain unmet. The President’s plan would help put workers back on the job in the near term, while also building the infrastructure our businesses and workers need to succeed in the global economy:

  • Investing in a “fix-it-first” policy. The national transportation system faces an immense backlog of state-of-good-repair projects, a reality underscored by the fact that there are nearly 70,000 “structurally deficient” bridges in the country today. The President’s plan for $50 billion in frontloaded transportation infrastructure investment would direct $40 billion towards reducing the backlog of deferred maintenance on highways, bridges, transit systems, and airports nationwide. For example, the President’s proposed investments …read more
    Source: White House Press Office