There is political consensus around the need to renew and rebuild America’s infrastructure, and President Trump has identified this as an Administration goal. But America lacks both the funding and the governance mechanisms to meet the challenge. This proposal offers a new framework to supplement the current convoluted maze of appropriated infrastructure funding, public-private partnerships, and other sources. The new approach provides the path to creating a market with sustained “deal flow” for large-scale private-sector funding of infrastructure. It is not predicated on a national infrastructure program but rather is driven from the bottom up relying on those public and private stakeholders at the local and regional level to “bring to market” fundable and politically viable projects. Developing a new partnership among federal, state and local governments and business creates the marketplace; this new partnership is referred to as "Partnership for Investing in America" (PIA).
The proposal as designed could generate slightly more than the $1 trillion the President has called for over the next ten years. The cost of the proposal over ten years is $75 billion to be expended in the early years so that the employment of 13.3 million direct jobs and 25 million jobs generated by this proposal can be realized. For every dollar of federal expenditure there will be over thirteen dollars of direct infrastructure investment; the multiplier and growth effect on the nation’s economy and the taxes generated would offset the reduction in dollars to the federal budget.
Even more important, the increase in economic activity and the improvements in the nation’s competitive advantage gained by the reinvigorating and building the supply chain regions, primarily rural, could regenerate the nation’s economy and alter the growth rate of the country.
The program suggestions described in this report have been generated by Intergovernmental Panel of NAPA and includes input from The Infrastructure Finance Education Working Group that participated in the Intergovernmental Panel.