Press Release
June 4, 2008
Sustainable Water Infrastructure Investment Coalition Applauds
Rep. Pascrell’s Introduction of H.R. 6194
Legislation Will Provide Communities with an Important Financing Tool to Address Water Infrastructure Financing Challenge
The Sustainable Water Infrastructure Investment Coalition (SWIIC), an alliance of water industry and other interested organizations working together to promote financially sustainable water infrastructure solutions, applauds Rep. Pascrell for introducing the Sustainable Water Infrastructure Investment Act, H.R. 6194.
“Too many communities are struggling to afford adequate water infrastructure,” stated Rep. Bill Pascrell, Jr. (D-NJ). “The Sustainable Water Infrastructure Investment Act will help aging municipalities afford a higher standard of public health and environmental quality. I believe the federal government must play a more active role in helping local communities achieve mandated water standards. This measure will help by providing a cost-effective and innovative framework for the federal government to prioritize critical water improvement projects in cities and towns all over the country.”
Rep. Pascrell, a member of the Ways and Means Committee, has shown real leadership by introducing this important bipartisan legislation. The Sustainable Water Infrastructure Investment Act (SWIIA) will give communities an important tool when dealing with the financial challenge of replacing aging and worn-out water infrastructure. H.R. 6194 has been co-sponsored by Rep. English (R-PA).
The bill would bring water and wastewater projects out from under the state volume cap on private activity bonds, and thereby significantly expand the availability of low cost financing for water infrastructure projects. Wall Street experts and the Environmental Protection Agency have projected that this simple change in the tax code could pump as much as $6 billion annually directly toward addressing our nation’s infrastructure replacement challenge. The cost to the federal government, however, would be very little; recent Treasury Department estimates put the SWIIA price tag at a mere $214 million over the next decade.
With its rational and realistic approach, low price tag, and bipartisan support, H.R. 6194 should be considered and passed by Congress as soon as possible. SWIIC members stand ready to work with Rep. Pascrell and Congressional leaders on passage of this bill into law as soon as possible.
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About the Sustainable Water Infrastructure Investment
Coalition
The Sustainable Water Infrastructure Investment Coalition (SWIIC)
is comprised of water industry and other interested organizations working
together to promote financially sustainable water infrastructure solutions.
Members include: The National Association of Water Companies, The Water and
Wastewater Equipment Manufacturers Association, The American Society of Civil
Engineers, The American Council of Engineering Companies, The National Council
for Public-Private Partnerships, The Water Partnership Council, The American
Public Works Association, United Water, ITT Corporation, The WateReuse Association,
GE Water & Process Technologies, the Ductile Iron Pipe Research Association,
Mueller Water Products, Inc.
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