The NCPPP supports the recommendation of the National Surface Transportation Infrastructure Financing Commission to protect and expand existing innovative financing mechanisms. These federal programs have been a good start, but more needs to be done to enable state transportation agencies to fully utilize these financing mechanisms. We would recommend to Congressional leaders to include the following important provisions in the transportation authorization legislation:
• Reauthorize the TIFIA credit program with increased financing capacity. Financing should be directed to core credit assistance for projects, pre-construction feasibility grants and to revenue negative, but for critical infrastructure projects.
•Provide federal funding to re-capitalize State Infrastructure Banks. These state credit institutions are closer to the critical infrastructure projects that will benefit the public with most expediency. Fully capitalized State Infrastructure Bank ultimately lower project related costs and the need for federal funding.
•Expend the Private Activity Bond program from the current $15 billion to an amount that will benefit more projects throughout the United States. The NCPPP would also recommend the re-tooling of this program to promote greater utilization for mass transit projects.
•Expand the U.S. Department of Transportation Urban Partnerships Congestion Pricing Initiative beyond the current pilot program to empower more urban centers to generate needed mass transit infrastructure funds through tolling, lessen urban congestion and fight greenhouse gas emissions.