With water infrastructure costs expected to exceed $1 trillion, a new report shows that only a few states are adequately leveraging federal dollars to shrink the infrastructure funding gap. The new report released today by the Natural Resources Defense Council (NRDC), “Going Back to the Well” highlights cutting-edge financing strategies for states to better fund the water infrastructure serving millions of Americans.
“Despite the looming funding gap, states aren’t thinking about how to meet that future need and are essentially funding water infrastructure the way you or I would manage our checking account,” said Rob Moore, Director of NRDC’s Water & Climate Team. “Each year, they just add up how much EPA gives them, plus a small state match, and that’s the amount of assistance they plan provide to help communities fix their drinking water and sewer systems. That’s not going to cut it.”
“Using more creative financial tools, like issuing bonds and using their SRFs to issue loan guarantees could greatly expand infrastructure funding. Those increased funds could determine which states are prepared to weather the coming storms,” said Moore.
May 15, 2018