The National Association Of Water Companies Applauds Introduction Of S. 2606
Bill Would Remove Federal Volume Cap on Private Activity Bonds
The National Association of Water Companies (NAWC) applauds the introduction of S. 2606 by Senators Robert Menendez (D-NJ) and Michael Crapo (R-ID). The bill would remove the federal volume cap on private activity bonds (PABs) used for drinking water and wastewater infrastructure projects.
“PABs are a critical source of financing for community drinking water systems serviced by regulated water utilities, and serve as an important tool to leverage the value of public-private partnerships in resolving the massive infrastructure funding gap that exists in our nation’s water systems that are in disrepair today,” said Michael Deane, executive director of the NAWC. “A removal of the bond volume cap for water projects will bring funding for this vital piece of the nation’s infrastructure in line with airports, high-speed rail and solid waste disposal, all of which are exempt from the existing cap.”
“The NAWC and our member companies support the passage of this bill. Removing the volume cap on PABs for water infrastructure investment could trigger up to an estimated $5-6 billion in private capital for necessary water projects -- providing resources for improving water infrastructure, generating significant tax revenue for states and communities across the country and, spurring job creation.”
The NAWC will continue to work with legislators to advance this measure through Congress.
About The NAWC
The National Association of Water Companies (NAWC) is the voice of the private water industry and the organization exclusively representing this group of quality water service providers, innovation drivers, creative financiers and responsible partners. For more information, visit NAWC.org.
Source: The NAWC