House Transportation & Infrastructure Panel on P3s Holds Hearing on Highway and Transit Projects
Thursday, March 13, 2014
SFAA staff attended the House Transportation & Infrastructure Committee’s Panel on Public-Private Partnerships (P3 Panel) recent hearing on highway and transit projects. The hearing was held to discuss and provide an overview of the use of public-private partnerships (P3s). Witnesses testifying before the P3 Panel were Mr. Joseph Kile of the Congressional Budget Office (CBO), Mr. Phillip A. Washington of the Regional Transportation District for Denver, CO (RTD), Mr. James M. Bass of the Texas Department of Transportation (TxDOT), and Mr. Richard A. Fierce of Fluor, who spoke on behalf of the Associated General Contractors (AGC). The issues discussed included the ways in which P3s can accelerate project delivery, comparing and evaluating the project delivery methods used in P3s to traditional methods, best practices for P3s, the protection of the public interest in a P3 project, project selection criteria, and risk allocations. Much of the hearing focused on project financing through the Transportation Infrastructure Finance and Innovation Act (TIFIA) program and Private Activity Bonds (PABs) and how they relate to the traditional funding mechanisms for highway and transit projects as well as the new method of P3.
This hearing was the second in a series following a roundtable discussion that served as a starting point for the discussion and report on P3s. Hearings are expected in the future on the use of P3s for other types of projects. This was the most substantive Congressional dialogue to date on P3s in terms of the give and take between the Panel and the witnesses. SFAA will keep its members apprised as this issue continues to develop in Congress. A video of the hearing and copies of the written testimony that were submitted to the P3 Panel are available here.
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Members should navigate to the Government Relations / Public-Private Partnerships
(P3s) - Member page to view a more detailed version of this document.