This week, Congress is discussing two bills that would rely on public-private partnerships to finance a variety of national infrastructure needs, including projects that focus on highways, rail and bridges, energy, and water. Projects supported by the legislation would draw financial support from private investment and the underwriting of municipal bonds.

One bill, the BUILD Act, was introduced by Senators John Kerry (D., MA), Mark Warner (D., VA) and Kay Bailey Hutchinson (R., TX). The BUILD Act would create an American Infrastructure Financing Authority or infrastructure bank modeled off of the Export-Import Bank that relies on private investment to fund projects abroad. Senator Kerry remarked, "Democrats and Republicans, business and labor are united to support the establishment of an American infrastructure bank in the United States in order to leverage investment and once again make America the world's builder of roads and bridges, highways and rails." Indeed, both the U.S. Chamber of Commerce President Tom Donohue and AFL-CIO President Richard Trumka support the bill.

The second bill is being drawn up by Senator Ron Wyden (D., OR); Senator Wyden is hoping to resuscitate the Build America Bonds program to use bonds to pay for transportation infrastructure improvements. The benefit of the bonds program is that state and local governments can borrow at a lower cost while corporate or private bondholder receives a tax credit.