House Lawmakers Prepare to Discuss Infrastructure

Posted on March 22, 2019

The House Ways and Means Committee will hold a hearing on Wednesday to discuss what the committee calls: “Our Nation’s Crumbling Infrastructure and the Need for Immediate Action.” The committee handles federal spending matters and is chaired by Rep. Richard Neal (D-MA).

The availability of modern and efficient infrastructure systems is a major factor in real estate development and investment decisions. The success of commercial real estate projects is largely dependent on access to quality roads, ports, rail and other infrastructure systems. Improving the nation’s infrastructure is one of NAIOP’s 2019 legislative priorities, and building the infrastructure the country needs will require federal investment.

In last month’s State of the Union Address, President Donald Trump said that infrastructure is an area that may be ripe for bipartisan cooperation. Rep. Peter DeFazio (D-OR) announced that he also hopes the parties can work together. “We face a $1 trillion surface transportation investment gap over the next 10 years to fix the infrastructure we have, meet future needs, and restore our global competitiveness,” he said in a news release. “Any serious infrastructure proposal must provide sustainable, long-term federal funding so we can make these necessary investments, create millions of living-wage American jobs, increase economic growth, and decrease congestion and emissions.”

Of course, building the infrastructure we need will also require removing regulatory obstacles that unnecessarily deter investment. The permitting and approval processes should also be streamlined to improve project delivery times and reduce costs.

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