私人投资如何填补美国日益增长的基础设施资金缺口

Supporting the Use of Public-Private Partnerships (P3s) Executivesummary The Global Infrastructure Investor Association (GIIA) urges Congress and theadministration to expand andsupport the use of Public-Private Partnerships (P3s) at federal, state, and local levels as a strategic meansof addressing America’s growing infrastructure investment gap. P3s unlock private capital,expertise, andinnovation while enhancing project delivery, operational efficiency, and long-term asset performance.P3sare not a substitute for public investment—but they are an essential complement. By aligning incentives, The U.S. must adopt a more coordinated national strategy that encourages the use of P3s by removingregulatory barriers, modernizing financing mechanisms, and incentivizing state and local participation. GIIA advocates fora three-pronged approach: 1.Expand existing federal programsthat incentivize P3 use at the state and locallevel 2.Scale federal-level P3 implementationto serve as a model for subnational governments3.Establish an asset recycling program, based on international best practices, to reinvest proceeds A well-structured P3 model can ensure better risk-sharing, life-cycle asset management, cost efficiency,and timely project delivery. Now is the time to reinvigorate America’s approach to infrastructure by 1. Expandexistingprogramsthatincentivizestates andlocalities touse P3s Problem: Many infrastructure projects at the state and local level are delivered inefficiently due to limited privatesector engagement, inconsistent legislative frameworks, and underutilized federal support mechanisms. Solution: Reinvigorate and expand federal programs that support state-level P3 adoption, provide technical Recommendedactions: •Restart and expand federal initiatives such as the Penta-P Program, Public-Private PartnershipWorkshops, and the Capital Investment Grant (CIG) Program. •Leverage the Build America Bureau to assist states in establishing P3-enabling legislation, build andstaff P3 offices, and offer capacity-building grants. •Enable revenue-sharing and retained interest models that align private and public sector interestsover the life of a project. •Use federal agencies such as the DOE Loan Programs Office and the Defense Production Actauthority to support offtake agreements and catalyze early-stage investment in P3 projects. •Create a centralized Build America Bureau database with standardized procurement templates,case studies, and model agreements for use by state and local governments. 2. Expanduse of P3s at thefederallevel andusesuccessfulexamples asmodels Problem: The absence of a strong federal pipeline of P3 projects limits broader adoption, as state and local leaderslack tested models and precedent for risk-sharing, concession structuring, and long-term operations. Solution: Federal leadership through high-profile P3s can demonstrate viability, attract private capital, and provide Recommendedactions: •Enact legislation to allow privatization or concession of federal property,modelledon the successfulMilitary Housing Privatization Initiative. •Increase staffing across key federal agencies, including DOE, DOT, and CHIPS program offices,and establish a Cross-Agency Infrastructure P3 Office to coordinate strategy and pipeline •Expand Innovative Finance and Asset Concession Grants administered by the Build AmericaBureau. •Pursue P3 models for operation and maintenance of federal land assets, using legislative changesto unlock financing flexibility. •Collaborate with the National Governors Association to align state-level initiatives and disseminatebest practices. 3. Establish anassetrecyclingprogrammodeled oninternational best practice Problem: States and municipalities often lack funding for new infrastructure projects, despite owning underutilized oraging assets that could be leveraged to generate capital through long-term concessions or sales. Solution: Adopt a U.S. asset recycling framework, modeled after Australia's Asset Recycling Initiative, to incentivizepublic asset concessions with the condition that proceeds are reinvested in new infrastructure. Recommendedactions: •Establish a federal asset recycling regulatory framework, allowing public entities to recycle fundsfrom concessioned assets into greenfield or brownfield projects. •Develop clear eligibility criteria, including value-for-money (VfM) analysis, economic impactassessments, and commitments to permitting reform. •Offer loan guarantees or direct loans, utilizing existing programs and new statutory authority, tosupport innovative infrastructure transactions that are otherwise difficult to finance. •Amend the Internal Revenue Code to allow: oExistingtax-exemptdebt to remain outstandinginthe event of a government enteringinto a oSale of assets originally financed with tax-exemptdebt. New tax-exempt debt issuance for acquiring existing infrastructure assets, if proceeds are •Require continued public interest