ASA Supports Sen. Ernst’s Amendment to the Senate Transportation Reauthorization Bill

Unfortunately, the Senate Environment and Public Works (EPW)’s surface transportation reauthorization bill did not include S. 638, the Promoting Infrastructure by Protecting Our Subcontractors and Taxpayers Act, which ASA supports.  However, ASA and the Surety & Fidelity Association of America convinced Sen. Ernst (R-IA) to offer S.638 as an amendment to the bill during the committee’s consideration of it.   Sen. Ernst’s amendment would direct the U.S. Department of Transportation (DOT) to ensure public-private partnership (P3) projects using Transportation Infrastructure Finance Innovation Act (TIFIA) financing have appropriate payment and performance security and are sound federal investments by requiring a surety bond.