The following is a statement from Randall (Randy) S. Over, P.E., F.ASCE, president of the American Society of Civil Engineers (ASCE) regarding the U.S. House of Representatives’ Transportation & Infrastructure Committee’s special panel report, Public-Private Partnerships: Balancing the Needs of the Public and Private Sectors to Finance the Nation’s Infrastructure, on the use of Public-Private Partnerships (P3s) to improve the nation’s infrastructure:
“Public-Private Partnerships (P3s) are a valuable form of financing for infrastructure projects. They have proven effective in projects across multiple sectors of infrastructure, as evident in the report released today. Similar to last week’s Infrastructure Investment Summit hosted by the Obama Administration, which ASCE members attended, bipartisan conversations like this one are crucial in ensuring we are leveraging all the potential dollars available to modernize our nation’s infrastructure. This special panel’s efforts indicate strides are being made in the dialogue.
“ASCE agrees with the report’s assessment that P3s are not the silver bullet to address our nation’s infrastructure investment deficit. The nation needs a boost in traditional funding, as well. In the 2013 Report Card for America’s Infrastructure, our nation received a D+ GPA. That grade indicates we have a large investment need; one that requires leadership on all levels on government. The U.S. Congress must continue to strive for sustainable, long-term funding sources to improve and maintain our infrastructure. It should begin by addressing the Highway Trust Fund’s insolvency before the end of this year. By doing so, Congress will shorten the uncertainty for states as they plan transportation projects.”