Transportation funding in America has never been so uncertain. The May 31 deadline for determining the fate of the highway trust fund is not seen in Congress as an action-forcing event. Whatever happens in the short-term, Congress must ultimately decide how much the federal government will contribute to the funding of transportation infrastructure. Though not widely acknowledged, the answer is critical to the continued good health of the P3 market for transportation megaprojects in the U.S.

For that reason, Public Works Financing asked two leaders of the P3 industry in the U.S. to explain how federal highway funding affects P3 deal flow. . .