Press Release
Sustainable Water Infrastructure Coalition Applauds President’s
Water Enterprise Bond Proposal
Bond presents innovative financing solutions to address aging infrastructure challenges
WASHINGTON, DC – The Sustainable Water Infrastructure Coalition (SWIC), an alliance of water industry and other interested organizations working together to promote financially sustainable water infrastructure solutions, applauds the Bush Administration’s Water Enterprise Bond proposal contained in the Fiscal Year 2009 Budget. The Coalition urges Congress to consider and adopt this important bipartisan proposal that will give localities the tools they need to address financing challenges associated with massive water infrastructure replacements, estimated to be as high as half a trillion dollars.
This proposal provides fiscally responsible and innovative financing solutions to municipalities working to upgrade their water and wastewater infrastructure. Recognizing that there is no shortage of private capital available for this work, this proposal will create more avenues though which private capital can be put to work for the betterment of all.
In a time of federal budget shortfalls and uncertain economic forecasts, this change in the tax code would cost the federal government very little money: Wall Street experts and the Environmental Protection Agency estimate the change could result in as much as $6 billion annually in private capital being deployed to help communities re-build their water infrastructure with an investment of only $31 million over 5 years, $184 million over 10 years.
With its low price tag and impetus for the creation of green-collar jobs, this creative financing initiative is an important and attractive option. SWIC members stand ready to work with the administration and congressional leaders on this traditionally bipartisan initiative.
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About Sustainable Water Infrastructure Coalition
The Sustainable Water Infrastructure Coalition (SWIC) 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 Design Professionals Coalition, The National Council for Public-Private Partnerships, The Water Partnership Council, The International Private Water Association, The National Utility Contractors Association, The American Public Works Association, United Water, ITT Corporation.
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