The Environmental Protection Agency estimates that the US needs more than $743 billion for water and wastewater infrastructure upgrades.[1] A new piece of legislation called “America’s Water Infrastructure Act of 2018” could help make those upgrades a reality. Bipartisan leaders from the Senate Environment and Public Works Committee recently released the bill for a low-cost lending program for water and sewer projects this month. Two weeks later, the Senate panel unanimously approved the bill. [2]
This piece of legislation was created to protect the Great Lakes and prioritize upgrades to US water infrastructure. Within it is a provision that will extend and provide additional funding for the Water Infrastructure Finance and Innovation Act (WIFIA.) WIFIA allows the federal government to offer direct water and wastewater project loans with low interest rates.
The program was set to expire after 2019 but this provision will extend the expiration to 2021. In addition to the extension, $100 million per year will be allotted to be split between the Environmental Protection Agency and the Army Corps to fund these necessary water projects. It is expected to save the country up to $32 million. [3]
[1] Lucia, Bill. “Senate Lawmakers Seek to Extend Waterworks Financing Program.” 8 May 2018. Route Fifty. Web. 9 5 2018.
[2] Shelbourne, Mallory. “Senate panel unanimously approves water infrastructure bill.” 22 05 2018. The Hill. Web. 24 05 2018.
[3] Lucia, Bill. “Senate Lawmakers Seek to Extend Waterworks Financing Program.” 8 May 2018. Route Fifty. Web. 9 5 2018.
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