The President called on Congress to pass legislation that would generate a $1.5 trillion investment in new roads, bridges, highways, railways, and waterways over the next decade. Under the President’s Plan, federal investment would be supplemented by contributions from state and local governments and the private sector.
President Trump also called on Congress to include permitting reforms in the infrastructure legislation to streamline the approval process for infrastructure projects.
Members of the Baker Botts Infrastructure practice anticipate the President’s infrastructure initiative, with bipartisan support in the Congress, will result in substantial new infrastructure investment and provide opportunities for many sectors of the U.S. economy.
“The President’s initiative encourages support from the private sector and we are likely to see a greater role for Public-Private Partnerships in the development of new infrastructure,” said Joseph Colagiovanni, Co-Chair of Baker Botts’ Infrastructure practice.
“The investment in new infrastructure, coupled with permitting reforms that eliminate inefficiencies in the regulatory approval process, should facilitate project approvals and construction on much faster timelines” said Jay Ryan, Co-Chair of the Energy Regulatory practice.
“The President’s infrastructure proposal builds upon his August 15, 2017 Executive Order providing for a more coordinated environmental review and permitting process for infrastructure projects” added Scott Janoe, Chair of the Environmental practice.
Baker Botts Infrastructure practice advises clients on sophisticated investment transactions, including project financing, construction and design agreements, and environmental permitting, in all manner of infrastructure matters whether as project sponsors, developers, financiers, investors, contractors or operators.
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