Infrastructure Policy Recommendations
April 29, 2019
Real estate and infrastructure have a synergistic, two-way relationship as growth in one of these asset classes spurs growth in the other. Safe and reliable infrastructure enhances the value of those properties it serves – that in turn generates greater revenues cycling into a stream that amplifies and leverages limited public dollars needed to fund infrastructure projects.
We offer policy suggestions within your Committee’s jurisdiction to improve programs to repair and modernize the transportation and other systems upon which the U.S. economy depends. We also suggest targeted changes to the federal tax code, requiring coordination with the Ways and Means Committee, to help pay for our nation’s infrastructure deficit.Infrastructure policy recommendations include:
Policies Within Transportation & Infrastructure Committee Jurisdiction:
- Comprehensive infrastructure legislation must include permit systems reforms.
- Spur public-private partnerships (P3s) by improving the TIFIA loan program.
- Harness the “transit premium” of higher property values for real estate located near mass transit to help finance nearby infrastructure.
- Prioritize the limited proceeds from the Highway Trust Fund with a “Fix it First” strategy.
- Financial and policy support for mass transit is critical.
- Repairing natural gas pipelines should be an infrastructure bill priority.
Infrastructure Financing Through Federal Tax Policy
- Comprehensive infrastructure legislation should unlock private capital for infrastructure investment by including the bipartisan Invest in America Act.
- Congress should responsibly and sustainably increase the federal gas “user fee.”
- Cost recovery rules for improvements to building infrastructure should encourage energy efficiency.
- Federal legislation should revise IRS “volume caps” and other limitations on private-activity bonds (PABs) to boost infrastructure development.