The President signed the America’s Water Infrastructure Now Act (SRF WIN Act) into law, on October 24, 2018. The new law makes federal water infrastructure investments a top priority for the nation. Significantly increasing the annual, federal investment on water and wastewater infrastructure from approximately $2 Billion to over $7 Billion per year. The bipartisan legislation passed the Senate by a vote of 99 to 1 in October and by a voice vote in the House of Representatives in September. America’s Water Infrastructure Now Act is the most sweeping infrastructure package to date, it will grow the economy, keep communities safe, and cut red tape making it easier for municipalities to apply for Water Infrastructure Finance and Innovation Act (WIFIA) loans for future projects.
The SRF WIN Act, dramatically improves the efficiency and timeliness of applying for Water Infrastructure Finance and Innovation Act or WIFIA Loans. Established in 2014, WIFIA, are federal loans and programs at the EPA that invest in the nation’s water infrastructure by providing long-term, low-cost financial assistance. With the new federal commitment of the SRF WIN Act, the WIFIA program has invited 39 projects to apply for loans in 2018. These municipalities could receive up to $5 billion to help finance over $10 billion in water infrastructure projects and will create an estimation of 155,000 jobs. In contrast, to the 12 projects that applied for more than $2 billion WIFIA loans in 2017. See the complete list of WIFIA projects here: https://www.epa.gov/wifia/wifia-selected-projects
Other benefits of The America’s Water Infrastructure Act:
- Authorize federal funding for water infrastructure projects, which brings billions in water infrastructure spending;
- Expand water storage capabilities;
- Include billions of dollars in deauthorizations and reduce the deficit;
- Assist local communities in complying with the Safe Drinking Water Act and Clean Water Act by upgrading aging drinking water, wastewater and irrigation systems;
- Reduce flooding risks for rural, western, and coastal communities;
- Ensure that America maintains the competitiveness of our coastal and inland ports, and maintain the navigability of our inland waterways;
- Create a new framework to allow for more Army Corps projects to be budgeted with increased local stakeholder input and expanded transparency;
- Authorize or reauthorize important water infrastructure programs and projects; and
- Address significant water infrastructure needs in tribal communities.