P3 Impressive Performance — All the anticipation surrounding President Trump’s $1trn plans are understandable, but there is a bill already with Congress that could have a greater impact on the P3 market.
Discussing what President Donald Trump’s proposed infrastructure bill will include has almost become a full-time job in itself of late.
Understandably, the federal P3 space was a hot topic at the recent P3C conference in Dallas. While doing the usual rounds at the event, P3 Bulletin spoke to many delegates who simply rolled their eyes when discussing the next move of this rather unstable new regime.
But while the president’s infrastructure plans (whatever they may be) will clearly play a key role in supporting development of the wider pipeline in the US, real growth will still be led by regional governments seeking to boost their crumbling infrastructure across a variety of sectors.
Talk of improved funding for toll roads and bridges are all good, but where will the funds come from to address the hospitals, court houses and utility infrastructure that are badly in need of attention in the wider country?
It is one thing providing federal funds to support regional government P3 programs, but while there remains legislative barriers preventing the private sector from investing in some of these deals, progress will continue to be slow.
This is why the PBBC’s PABs bill – currently with the Senate – is perhaps the proposal that is providing the most excitement right now. While talk revolves around Trump and his phantom plans, the PBBC is already making headway with tangible proposals that could have a genuine impact on the market.
With bipartisan support for the bill growing, these plans look well positioned to finally gain the necessary traction to become law – although it must be acknowledged that there is still some way to go. Should they achieve this however, governments would then have a level playing field to develop new projects to add to the pipeline of transport deals that the US now boasts.
This bill will allow states new avenues to funding for the smaller projects that will become the backbone of the fledgling US pipeline. Without these changes, regional governments will still be restricted as to what they can do – with or without federal money.
As a result, many in the market are now in full support of the PBBC’s bill and have acknowledged the important role that its bill could play in opening up the US market.
It has often been asked exactly what the industry can do to boost its opportunities to gain a genuine toe-hold in the US infrastructure arsenal. The answer is somewhat subjective, but for now the PBBC and its bill are proof that the private sector can take the bull by the horns to boost the options for the industry.
P3 Impressive Performance