The FINANCIAL — Building a 21st-century infrastructure is a critical component of the Administration’s efforts to accelerate economic growth, expand opportunity, create jobs and improve the competitiveness of the American economy. As part of this effort, President Obama launched the Build America Investment Initiative in July 2014, calling on federal agencies to find new ways to increase investment in ports, roads, bridges, broadband networks, drinking water and sewer systems and other projects by facilitating partnerships between federal, state and local governments and private sector investors, according to WHITEHOUSE.
The Obama Administration is announcing new steps that federal agencies are taking to bring private sector capital and expertise to bear on improving our nation’s roads, bridges, and broadband networks. First, the Administration is launching a new Water Finance Center at the Environmental Protection Agency and highlighting the progress of the Rural Opportunity Investment Initiative at the Department of Agriculture. These efforts will help local and state governments access federal loan and grant programs to get more projects off the ground. The Administration is also announcing a new set of infrastructure tax proposals that will level the playing field for projects that combine public and private investment so that local and state governments can more easily work with the private sector to advance the public interest.
At an event at the Anacostia River Tunnel Project Site in Washington, DC later, the Vice President—joined by Environmental Protection Agency Administrator Gina McCarthy and USDA Secretary Tom Vilsack— will stress the importance of these critical investments. The event is part of the Vice President’s ongoing work to highlight the importance of doing more to invest in our nation’s infrastructure to create jobs, help American businesses, and grow our economy, according to WHITEHOUSE.
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