Sen. Mark Warner’s Bridge Act would create a $10-billion federal credit program modeled substantially on TIFIA (providing up to 49% loans/guarantees for major projects sized $50m or more with a 5% rural project carve out.) Loans would be at Treasury rates for projects with dedicated revenues and a focus on P3 delivery. The bill’s Infrastructure Financing Authority (IFA) would be housed in a new “independent” agency (Ex-Im Bank model) overseen by Treasury and would lend to multiple sectors beyond transportation.
Rep. John Delaney’s Partnership to Build America Act would create a $50-billion nonprofit infrastructure fund capitalized with repatriated profits and modeled on Ex-Im Bank and without direct congressional control. It would operate on an enterprise mandate and would credit-enhance state and local debt for transportation, energy, communications, water, and education infrastructure projects. P3 developers are not eligible to receive federal loans in the House version but may be in the final bill. CBO’s high scoring will be addressed in the Senate companion bill.