Funding Change in WRDA Bill Expected to Increase Inland Waterway Projects
A change in the funding formula for inland waterway projects could add $100 million annually to waterway infrastructure spending as the House of Representatives approved a new Water Resources Development Act on Tuesday.
The bill, commonly known as WRDA, will lower the funding cost share for the Inland Waterways Trust Fund from 50% to 35%, and increase the costs from general federal revenue for those projects from 50% to 65%. The shift in cost share will boost the number of projects that can be funded annually.
"It will provide about an additional $100 million each year for construction projects for inland waterways," said Tracy Zea, president and CEO of the Waterways Council Inc. "Over ten years, it will provide an additional $1 billion."
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The bill, commonly known as WRDA, will lower the funding cost share for the Inland Waterways Trust Fund from 50% to 35%, and increase the costs from general federal revenue for those projects from 50% to 65%. The shift in cost share will boost the number of projects that can be funded annually.
"It will provide about an additional $100 million each year for construction projects for inland waterways," said Tracy Zea, president and CEO of the Waterways Council Inc. "Over ten years, it will provide an additional $1 billion."
Click Here to read more.