Rep. McNerney Applauds Water Infrastructure Fix in Passage of Highway Transportation Bill

Washington – December 04, 2015 – (RealEstateRama) — Rep. Jerry McNerney (CA-09) today applauded the U.S. House passage of the FAST Act that included a provision that strikes the prohibition barring municipalities from using tax exempt bonds toward Water Infrastructure Finance and Innovation Act (WIFIA) projects. Last week, Rep. McNerney and Rep. Carlos Curbelo (FL-26) led their House colleagues in a bipartisan letter urging that this provision be included in the final highway-transportation bill language.

An estimated 7 billion gallons of water is lost per day in this country due to leaky pipes. This can result in some cities losing as much as 30 percent of their water. Currently, there are enough shovel-ready drinking water projects in the country to create more than 400,000 jobs, including 90,000 construction jobs. Lifting the tax-exempt municipal bond ban for WIFIA projects will help get some of these projects up and running.

Rep. McNerney also co-sponsored Rep. Curbelo’s legislation, H.R. 3756, that would have removed the financial assistance limitation for WIFIA water projects.

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