January 2022

How the Bipartisan Infrastructure Law Will Incentivize P3s

Raymond Tillman

Public-Private Partnerships are used far less in the U.S. than elsewhere. They comprise roughly 1-2% of infrastructure spending in the U.S. vs. 5-20% in other developed countries.  The big question today is whether the Bipartisan Infrastructure Law (BIL) will send that percentage up or down. For surface transportation, specifically, the BIL provides $110 Billion out of its $1.2 Trillion to repair roads and bridges and support major transportation projects. Federal funding may displace state or local funding, which may in turn reduce incentives for the use of P3s, but US investment requirements appear to far exceed what the BIL is providing. While $110 Billion is not small potatoes, according to ASCE (American Society of Civil Engineers) estimates, current and future highway-related infrastructure needs total almost $800 Billion.

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