Congressman Mike Fitzpatrick (PA-8) released the following statement about the efforts to develop reliable and effective infrastructure funding in response to President Obama’s visit to the Port of Wilmington I-495 Bridge in Delaware:
I am thankful that the President has recognized the need to address the critical issue of infrastructure. With the recent closure of the I-495 Bridge, the estimated 90,000 vehicles that use the route every day have had to be diverted onto smaller roads, complicating commutes and slowing commerce around the I-95 corridor.
Because of bipartisan cooperation in the House and passage of the ‘Highway Transportation and Funding Act’, it now appears the highway trust fund will receive a short term funding measure until spring. While this funding is critical, we cannot accept a temporary fix and waste this opportunity to provide America the 21st century infrastructure it needs to remain competitive in an increasingly globalized world.
I encourage the President and leaders of both parties to review my bipartisan ‘Partnership to Build America Act’. As an alternative to the tax-and-spend or cut-and-spend paths both parties have used in the past, this bill is an innovative and long-term solution to our infrastructure needs. It presents an opportunity to invest over $750 billion directly into American infrastructure without costing hardworking taxpayers more money.
Fitzpatrick introduced the Partnership to Build America Act along with Congressman John Delaney (D-MD). The legislation would create an American Infrastructure Fund to provide loans or guarantees to state or local governments to finance qualified infrastructure projects. These guarantees will use revenues from repatriated corporate earnings as a funding mechanism to provide a total of $750 billion in infrastructure financing for federal, state and local infrastructure projects.
Additionally, Fitzpatrick has introduced the Fairness to Veterans for Infrastructure Investment Act [H.R. 2906] which would provide veteran-owned businesses access to existing contracting preferences authorized for federal transportation projects to ensure that our nation’s veterans play an important role in revitalizing our infrastructure economy.