Press Release
June 10, 2008
National Association of Water Companies Statement Regarding
U.S. House of Representatives Committee on Transportation and Infrastructure Hearing on “Financing Infrastructure Investments”
WASHINGTON, D.C. – The United States House of Representatives today held a hearing to examine financing methods that can be used to adequately fund improvements in our nation’s infrastructure, including waterways and wastewater treatment. Peter Cook, executive director of the National Association of Water Companies (NAWC), issued the following statement:
"Cities, towns and utilities face a major challenge over the next several decades as they seek to replace aging and worn-out infrastructure. The NAWC strongly supports the willingness of the Transportation and Infrastructure Committee to look beyond traditional methods of infrastructure financing to consider innovative and effective ways of funding much-needed improvements in our nation’s water infrastructure.
“Innovative ideas for reinvestment in the water and wastewater treatment industry are nothing short of essential. Inadequate infrastructure investment puts public health and the environment at risk. While the federal government has a role in addressing this challenge, it is neither fiscally realistic nor sound public policy for the federal government to step in and ‘bail out’ the water industry.
“The NAWC supports a variety of methods for increasing the availability of low-cost financing options — including H.R. 6194, Rep. Pascrell’s (D-N.J.) bill to bring water and wastewater projects out from under the state volume cap on Private Activity Bonds, and Rep. DeLauro’s (D-Conn.) National Infrastructure Development Act (H.R. 3896). We praise Reps. DeLauro and Pascrell for their leadership on these fronts. In a time of federal budget shortfalls and uncertain economic forecasts, the federal government can best help finance infrastructure investments by creating more avenues through which private capital can be put to work.
“NAWC also supports low interest loans for truly needy water utilities such as those provided in the Clean Water State Revolving Fund and the Drinking Water State Revolving Fund. Loans are an appropriate and efficient form of federal government assistance that do not breed dependence and inefficiency.”
# # #
About National Association of Water Companies
The National Association of Water Companies (NAWC) represents
all aspects of the private water service industry. The range of our members’ business
includes ownership of regulated drinking water and wastewater utilities and the
many forms of public-private partnerships and management contract arrangements.
NAWC members are in every region of the country and range in size from large
companies owning and/or operating many hundreds of utilities in multiple states
to individual utilities with only a few hundred customers.
BACK
|
