A major all-sectors infrastructure bill is unlikely in 2017. Other top priorities will dominate congressional time, and the committee structure will make it hard for a comprehensive infrastructure bill even when there is plenty of available time.

Nevertheless, there are two important opportunities that the PPP community should pursue with the new Congress and the new leadership at the U.S. DOT. Both would focus on removing federal barriers to PPP infrastructure investment, along the lines suggested in the $1 trillion Ross/Navarro proposal I discussed here last month.

The most important of these is to create a level financial playing field for PPP infrastructure as part of the 2017 tax reform legislation.