At the start of October, President Trump signed the reauthorization of the Fixing America’s Surface Transportation (FAST) Act, seen by many as a move that gives congress the breathing space it needs to start to think about new legislation.
In a news analysis feature, Congressman Bill Shuster, senior policy advisor and former Chairman of the House Transportation and Infrastructure Committee, and Rodney Slater, partner and former US Secretary of Transportation under the Clinton Administration, offer insight on the FAST Act’s one-year extension and how it presents an opportunity to move towards a more comprehensive, bipartisan, long-term bill that extends beyond surface transportation. Being cautiously optimistic, Congressman Shuster commented, “The first piece of legislation for the next president should be an infrastructure bill. It is the perfect vehicle to help heal the wounds in America.”
Secretary Slater and Congressman Shuster agree that P3s will play a role in the new potential bill, and that we are likely going to see greater use of asset recycling, with Sec. Slater suggesting that all the different elements of infrastructure, along with novel approaches to financing P3s, is “the birthing of the Fourth Industrial Revolution, with a greater reliance on technology, 5G, and broadband, as well as traditional forms of infrastructure investment.”
This article first appeared in the October 13, 2020, edition of P3 Bulletin and repurposed here with permission. For more information, visit www.p3bulletin.com.