U.S. Sen. Ron Wyden (D-Ore.) introduced legislation that will create a new, innovative program to assist states and localities to aid in closing the funding gap and provide tax-exempt financing for complex transportation public private partnerships. The Move America Program, which consists of tax exempt bonds and a federal tax credit component, will help provide badly needed federal assistance for large-scale transportation projects. The Move America Program, coupled with robust TIFIA and PABs assistance, would facilitate local governments and the private sector in reaching financial close on public private partnerships for critical infrastructure projects.
AIAI said that the support of the federal government is key to the successful implementation of transportation programs at the state level and local level. This support is vital for states, allowing them them to retain control of their programs, and not add additional levels of bureaucracy that could potentially hinder the implementation and delivery of important projects.
The Move America Program introduces another tool to assist local governments in meeting the needs of their citizens. AIAI continues to be available to Senator Wyden and Congress for discussions related to the benefits this innovative delivery program, Best Practices and the merits of public private partnerships.
“AIAI recognizes that the primary objective of the Move America Program is to increase federal infrastructure spending and expand the role of the private sector in addressing the critical investment needs in US Infrastructure,” said John Parkinson, executive director of AIAI. “AIAI is completely aligned with Senator Wyden on this objective. As such, in principle we support the introduction of the legislation and encourage the further development of the Move America Program. We stand ready to assist the Senator and act as a resource to improve upon the program as introduced as it moves through the legislative process.”
