American Infrastructure : Funding, Grants and Oversight / Jordan Richter, editor.

Format:

Book

Contributor:

Richter, Jordan, editor.

Series:

American political, economic, and security issues series.

American Political, Economic, and Security Issues Series

Language:

English

Subjects (All):

Infrastructure (Economics).

Physical Description:

1 online resource (353 pages)

Edition:

First edition.

Place of Publication:

New York : Nova Science Publishers, Inc., [2024]

Summary:

Infrastructure investment is vital to the economic growth in America. The sorry state of our infrastructure right now is a recipe for national decline, and the United States continues to fall behind China and other countries on broadband, on roads, on highways, on ports, on rail, airports, housing, and in other areas. Chapter 1 looks at funding options for bolstering and improving the current infrastructure. The Infrastructure Investment and Jobs Act includes a provision to review DOT's process for evaluating and selecting INFRA projects for award. Chapter 2 examines DOT's processes to solicit, evaluate, and select applications for INFRA grant awards. The nation's 16 critical infrastructure sectors provide essential services such as electricity, healthcare, and gas and oil distribution. However, cyber threats to critical infrastructure, such as ransomware, represent a significant national security challenge. Chapter 3 describes the reported impact of ransomware attacks on the nation's critical infrastructure.

Contents:

Intro

Contents

Preface

Chapter 1

Funding and Financing Options to Bolster American Infrastructure0F*

Opening Statement of Hon. Ron Wyden, a U.S. Senator from Oregon, Chairman, Committee on Finance

Opening Statement of Hon. Mike Crapo, a U.S. Senator from Idaho

Statement of Joseph Kile, Ph.D., Director of MicroEconomic Analysis, Congressional Budget Office, Washington, DC

Statement of Victoria F. Sheehan, President, American Association of State Highway and Transportation Officials, Washington, DC

Statement of Heather Buch, Subcommittee Chair, Transportation Steering Committee, National Association of Counties, Washington, DC

Statement of Shirley Bloomfield, Chief Executive Officer, NTCA-The Rural Broadband Association, Arlington, VA

Prepared Statement of Shirley Bloomfield, Chief Executive Officer, NTCA-The Rural Broadband Association

Introduction

A Holistic View of and Approach to Broadband Infrastructure

Future-Proof Networks

Meeting Consumer Demand in Decades to Come

Importance of Symmetrical Speed

Hold Providers Accountable

Promote Local Partnership

Leverage Community-Based Providers

Program Coordination

Coordinate with and Leverage Existing Broadband Programs

Direct Funding for New Network Deployment to Unserved Areas

Support Ongoing Network Operations

Barriers to Deployment

Permitting Delays

Addressing Supply Chain Concerns

Conclusion

Question Submitted for the Record to Shirley Bloomfield

Question Submitted by Hon. Todd Young

Prepared Statement of Heather Buch, Subcommittee Chair, Transportation Steering Committee, National Association of Counties

Questions Submitted for the Record to Heather Buch

Questions Submitted by Hon. Rob Portman

Prepared Statement of Hon. Mike Crapo, a U.S. Senator from Idaho.

Prepared Statement of Joseph Kile, PhD, Director of Microeconomic Analysis, Congressional Budget Office

Summary

Revenues Credited to the Highway Trust Fund

Federal Support for State and Local Borrowing for Highway Spending

Status of the Highway Trust Fund

Spending for Highways

Sources of Revenues

Options

Increase Existing Fuel Taxes

Institute New Taxes or Fees

Impose a VMT Tax

Institute a Tax or Fee on Electric Vehicles

Establish a Highway Freight Tax

Transfer General Revenues

Tax-Preferred Bonds

Tax-Exempt Bonds

Tax Credit Bonds

Direct Federal Credit Programs

State Infrastructure Banks

Raise the Cap on Highway QPABs

Institute a Tax Credit Bond Program

Expand the TIFIA Program

Allow States to Collect Tolls on Interstate Highways

Questions Submitted for the Record to Joseph Kile, PhD39F

Infrastructure Banks

Airports' Passenger Facility Charges

Fees on Electric Vehicles

Questions Submitted by Hon. John Barrasso

Electric Vehicles

Funding for the Transit Account of the Highway Trust Fund

Prepared Statement of Victoria F. Sheehan, President, American Association of State Highway and Transportation Officials

The Importance of a Timely Reauthorization of Federal Surface Transportation Programs

Need for a Long-Term Funding Solution for the Highway Trust Fund

Financing Mechanisms Can Support, but Not Replace Direct Federal Funding

The Tangible Economic Benefits of Investing in Highway, Transit, and Other Transportation Infrastructure

Questions Submitted for the Record to Victoria F. Sheehan

Questions Submitted by Hon. Rob Portman.

Prepared Statement of Hon. Ron Wyden, a U.S. Senator from Oregon

American Council of Life Insurers

Life Insurance Companies' Investments in Infrastructure

Taxable Direct Payment Infrastructure Bond Programs

American Public Gas Association (APGA)

American Securities Association (ASA)

ASA Priorities for Infrastructure Reform

Maintain the Municipal Tax Exemption

Allow for Infrastructure Plans That Can Be Customized at the State/Local Levels, Rather Than a Nationwide "Infrastructure Bank"

Reinstate Tax-Exempt Advance Refundings for Municipal Bonds

Ensure Municipal Bonds Continue to Promote Environmental and Social Objectives

Congress Should Update the Tax Code to Allow for More Bank-Qualified Bonds

Expand Private-Activity Bonds (PABs)

Reinstate the Build America Bonds (BABs) Program (2009-2010)

American Truck Dealers

FET First Imposed to Pay for World War I

Congressional Support Grows to Change the FET Last Year

FET Discourages Modernizing America's Truck Fleet

FET Repeal Would Spur the Sale of New Safer Trucks and Increase Highway Safety

The FET Creates Considerable Administrative Burdens and Costs for Small Businesses

The FET Revenue Stream into the Highway Trust Fund Is Volatile

Attachment A: Summary of Highway Trust Fund (HTF) Revenues 2005-2019

Attachment B

Attachment C

Attachment D

Statement of Michael Bindner

Attachment-Our Nation's Crumbling Infrastructure, March 6, 2019

Attachment-FY 2022 Energy and Water Development Appropriation

Attachment-FY 2022 Financial Services Appropriation

Asset Value-Added Tax (A-VAT)

2021 Recession

Attachment-Debt Ownership as Class Warfare, September 24, 2020

Global Infrastructure Investor Association

Government Finance Officers Association.

Preserve the Tax Exemption for all Municipal Securities

Reinstate the Tax Exemption for Advance Refunding Bonds

Increase Access to Capital for Small Borrowers

Restore and Expand the Use of Direct-Pay Bonds

Municipal Bonds for America

The Role of Municipal Bonds in Infrastructure Finance

Restore Advance Refundings

Expand the Use of Private Activity Bonds

Raise the Bank Qualified Debt Limit

Reinstate Direct Pay Bonds

ESG and Green Bonds

NAFA Fleet Management Association

Comments

Federal VMT Pilot Program Scale &amp

Participation

VMT Fee Rate Setting Processes &amp

Equivalency to Current User Fees

Data Collection Systems &amp

Costs Associated with a Federal VMT Pilot Program

Accounting for Varied Driving Environments

National Association of Health and Educational Facilities Finance Authorities

Restore Advance Refunding Municipal Bonds

Enhancement of Small Borrower Rules

Direct Subsidy Bonds

National Association of Manufacturers

Owner-Operator Independent Drivers Association

The Real Estate Roundtable et al.

Limiting Businesses' Ability to Defer Gain Reinvested in Property of a Like Kind

Doubling the Long-Term Capital Gains Tax Rate

Limiting Capital Gains Treatment to Invested Cash and Disregarding Other Forms of Risk Taken by Partners

Taxing the Unrealized Gain on Appreciated Assets Not Once but Twice When an Individual Dies

Effect on Taxpayers

Effect on Real Estate Industry

Effect on the Economy

Reinsurance Association of America

Climate Change and Natural Disaster Risks

Investing in Resilience for America's Communities is Critical, Logical, and Smart

The RAA's Community Disaster Resilience Proposal

Housing Is Infrastructure

Appendix A.

Securities Industry and Financial Markets Association

Preserve Tax Exemption for Interest Earned by Investors on State and Local Bonds

Recommendations

Reinstate the Tax Exemption on Advance Refunding Municipal Bonds

Direct Pay Bonds

The Small Issuer Exception

Private Activity Bonds

Chapter 2

Discretionary Transportation Grants: DOT Should Improve r Transparency in the Infrastructure for Rebuilding America Program77F(

Abbreviations

Why GAO Did This Study

What GAO Recommends

What GAO Found

Background

DOT Combined the Solicitation and Evaluation Processes for Three Grant Programs, Then Separately Selected INFRA Applications for Award

Solicitation Process

Evaluation Process

Senior Review and Selection Processes

DOT Generally Followed Guidance for Evaluating INFRA Applications but Quality Control Process Did Not Always Ensure Complete and Accurate Documentation

DOT Designed, Followed, and Documented Its Evaluation Process as Required by Federal Guidance

DOT's New Quality Control Process Did Not Always Ensure Complete and Accurate Documentation

DOT's INFRA Award Selection Process Did Not Fully Align with Guidance

DOT Did Not Fully Describe Its Criteria or Document Its Rationale for Advancing Applications for Award

DOT Has Taken Steps to Improve Its Documentation of the Secretary's Award Decisions

Recommendations for Executive Action

Agency Comments and Our Evaluation

Appendix I: Objectives, Scope, and Methodology

Appendix II: Selected Statutory Requirements for Multimodal Project Discretionary Grant Programs

Appendix III: Key Statistics for Infrastructure for Rebuilding America (INFRA) Grant Program Awards, Fiscal Years 2016-2022.

Department of Transportation.

Notes:

Includes index.

Description based on publisher supplied metadata and other sources.

Description based on print version record.

ISBN:

9798891137691