Carlos Curbelo Brings Out Water Infrastructure Finance Bill

On Friday, U.S. Rep. Carlos Curbelo, R-Fla., introduced the “Water Infrastructure Finance and Innovation Act (WIFIA) Improvement Act” which ensures bonds can be included in backing federal water projects. 

“WIFIA is an innovative pilot program that was created in the Water Resources Reform and Development Act of 2014,” Curbelo said on Friday when he unveiled the bill. “Similar to other successful transportation programs that connect different funding sources, WIFIA would leverage a small amount of federal funds to enable large, job-creating, water infrastructure projects. While WIFIA can finance up to 49 percent of eligible projects, a current limitation prevents these loans from being combined with tax-exempt bonds, resulting in the program's operation being severely impaired. This prohibition undermines WIFIA as a tool to advance water infrastructure projects. By repealing the limitation on tax-exempt bonds, critical improvements to our nation’s drinking water and wastewater systems can be made. 

“Making this common sense fix to the WIFIA program will encourage investment and create jobs in South Florida,” Curbelo added. “Americans need innovative, low cost solutions to meet the great demands placed on large water infrastructure systems, and this bill is an excellent start.”

The bill was sent to the House Transportation and Infrastructure Committee and the House Energy and Commerce Committee on Friday.