WASHINGTON – U.S. Senator Roger Wicker, R-Miss., has joined a bipartisan coalition of ten U.S. Senators to establish a new infrastructure financing authority to help states and localities better leverage private funds to build and maintain the nation’s outdated infrastructure.

“I am particularly pleased that the legislation sets aside dedicated funding to rural states, such as Mississippi,” Wicker said. “Attracting private investment in infrastructure is oftentimes too cumbersome and complex for many small towns and counties. This bill would address that problem by streamlining the process and providing much-needed assistance for these rural communities to get the funds they sorely need.”

The “Building and Renewing Infrastructure for Development and Growth in Employment (BRIDGE) Act,” helps to address the nation’s alarming investment shortfall in maintaining and improving our transportation network, water and wastewater systems, and energy infrastructure.

The bill will establish an independent, nonpartisan financing authority to complement existing U.S. infrastructure funding. The authority would provide loans and loan guarantees to help states and localities fund the most economically viable road, bridge, rail, port, water, sewer, and other significant infrastructure projects.

The authority would receive initial seed funding of up to $10 billion, which could incentivize private sector investments and make possible up to $300 billion in total project investments. The authority is structured in a way to make it self-sustaining over time.

The legislation is sponsored by Senators Mark R. Warner, D-Va., and Roy Blunt, R-Mo.

A summary of the bill is available here.  Comments from a broad variety of stakeholders and industry experts are available here.