Water Infrastructure Financing: WIFIA and the Clean Water State Revolving Fund

Environmental Permitting and Water InfrastructureHouse Transportation and Infrastructure Subcommittee on Water Resources and Environment · 2025-03-11 · 119th Congress
The House Transportation and Infrastructure Subcommittee on Water Resources and Environment held this hearing to examine the Clean Water State Revolving Fund (SRF) and the Water Infrastructure Finance and Innovation Act (WIFIA) programs, focusing on how to make federal water infrastructure financing more efficient ahead of potential reauthorization. Begins at 0:18:46
Transcript
Highlights

Title

Reauthorizing WIFIA and the Clean Water State Revolving Fund

Purpose

The House Transportation and Infrastructure Subcommittee on Water Resources and Environment held this hearing to examine the Clean Water State Revolving Fund (SRF) and the Water Infrastructure Finance and Innovation Act (WIFIA) programs, focusing on how to make federal water infrastructure financing more efficient ahead of potential reauthorization. Witnesses representing state loan authorities, a tribal nation, an engineering consultancy, and the construction industry testified on loan mechanics, regulatory burdens, and funding gaps, while members debated proposed EPA budget cuts and the merits of loans versus grants. Begins at0:18:46

Who spoke

Chairman Rick Collins (R-GA)0:19:17: Opened by describing the Clean Water SRF's $172 billion in nearly 50,000 loans over almost 40 years0:20:48 and noted WIFIA has closed 140 loans while the Corps' CWIFP program has issued none0:21:48; later asked each witness for one or two efficiency suggestions0:53:40.

Ranking Member Sheila Cherfilus-McCormick / Rep. Wilson (D-FL)0:23:19: Warned that proposed cuts of over 65% to water infrastructure funding would raise water bills and threaten roughly 28,000 jobs per billion invested0:25:500:26:20; cited her district's $147 million WIFIA loan and 100 million CalPERS-style Miami-Dade loan0:58:470:59:17.

Jeff Walker, Immediate Past President, CIFA0:30:25: Testified SRFs hold $64 billion in permanently revolving funds, $12 billion more than cumulative federal funding0:30:55; said Texas's SRF leveraging offered $482 million against $4 billion in demand0:31:251:27:37; argued congressional mandates like Davis-Bacon, American Iron and Steel, and Build America Buy America add 30-40% to project costs1:50:38.

Chairman Tony Hillaire, Lummi Nation0:36:31: Described the Gooseberry Point wastewater plant, which operated beyond capacity for six years before an $8.7 million (later stated $18.6M-equivalent breakdown) fix combining grants and SRF financing0:39:02; said the Lummi Nation has identified roughly $50 million in pressing water/sewer needs plus another $46 million in potential needs0:40:03; called for direct tribal set-asides and streamlined applications0:41:34.

Dan Buckley, Preconstruction Executive, Garney Construction0:41:34: Said federal funding once covered 63-75% of water infrastructure costs but now covers only about 4%0:44:05; cited ASCE's $1 trillion 25-year investment need against annual SRF funding of $2-5 billion0:44:05; proposed lifting private activity bond caps on water projects as done for transportation0:46:06.

Mike Matichich, Jacobs, on behalf of U.S. Chamber of Commerce0:47:06: Highlighted WIFIA innovations — combination-of-projects applications, five-year master agreements, and rate renegotiation that saved 11 loan holders an estimated $1.5 billion0:50:08; recommended a subsidized interest rate (2/3 of Treasury rate) for small systems0:51:08.

Rep. Wilson (D-FL) — see above.

Rep. Mike Bost (R-IL)1:04:22: Asked witnesses about bonding requirements for WIFIA-assisted projects1:04:52 and discussed his Clean Water SRF Parity Act allowing investor-owned utilities to access SRF loans1:06:54.

Rep. John Larson (D-CT), Ranking Member of full committee1:09:25: Introduced Chairman Hillaire and pressed him on coordinating multiple federal agencies (IHS, BLM, EPA) for tribal water financing0:34:271:09:56; questioned Matichich on the impact of a hypothetical 65% EPA cut1:14:29.

Rep. Vince Fong (R-CA)1:15:30: Asked about accessibility of WIFIA for large-scale California water storage projects like Sites Reservoir1:15:30 and about extended loan maturity terms1:18:01.

Rep. Sydney Kamlager-Dove / Rep. Gyan (D-NY)1:20:33: Described PFAS contamination in Hempstead, NY drinking water and a $55 million treatment facility project, crediting constituent activist Mary Florence Perie1:21:031:24:04.

Rep. Mike Ezell / Vice Chair Taylor1:26:37: Described a Waverly, Ohio water leak causing a boil advisory and eight water main breaks in one year1:27:07; discussed whether SRF should remain a loan versus grant1:28:39.

Rep. Laura Friedman (D-CA)1:32:10: Warned a 65% EPA budget cut would gut air and water monitoring; cited $14.6 billion in California SRF/WIFIA assistance since 1989 and a $1.8 million Burbank Sanitary District loan1:33:40.

Rep. David Valadao / Rep. LaMalfa (R-CA)1:37:12: Discussed the Sites Reservoir project's WIFIA application, pending since 2021-2022, and asked about schedule flexibility for large multi-year projects1:39:12.

Rep. Jared Huffman / Rep. Garamendi (D-CA)1:43:01: Criticized proposed 65% EPA and Army Corps funding cuts as undermining the value of any WIFIA/SRF reforms being discussed1:44:02.

Rep. Barry Moore / Rep. Knott? (R-FL)1:48:07: Raised the $37 trillion national debt and asked whether federal financing could be conditioned on reducing state regulatory costs1:49:37.

Rep. Shomari Figures (D-AL)1:54:09: Noted seven of the fifteen poorest counties in Alabama are in his district and that Pritchard, Alabama loses an estimated 60% of treated water in delivery1:56:41; criticized proposed tax-break-funded deficit spending1:54:39.

Rep. Jeff Hurd (R-CO)2:09:26: Asked about asymmetric application of mandates like the sustainability asset management plan across states, citing Colorado engineering procurement conflicts2:09:56.

Rep. Eleanor Holmes Norton (D-DC)2:05:53: Asked about harms from federal water funding cuts, including 6 billion gallons of treated water wasted hourly2:06:24, and about a $1.4 billion cut to Army Corps construction2:07:55.

Rep. Eric Burlison (R-MO)2:14:29: Asked Walker about state efficiency, noting SRFs charge only about 4% overhead2:15:29.

Rep. Brian Babin (R-TX)2:20:01: Asked whether federal bureaucrats know Texas water needs better than local officials2:20:31; discussed effects of Biden-era grant expansion on SRF leverage2:21:32.

Rep. Bruce Westerman (R-AR)2:24:02: Asked about regionalization of rural water systems, citing central Arkansas's regionalized management model2:25:34.

Key moments

Walker said Clean Water SRFs hold $64 billion in permanently revolving loan funds, $12 billion more than total federal capitalization to date, calling this "the power of loans" versus one-time grants0:30:551:29:09.

Hillaire detailed a six-year, $8.7 million effort to replace the failing Gooseberry Point wastewater plant, funded through a mix of grants/forgivable loans and SRF financing0:39:02.

Buckley stated federal cost-share for water infrastructure has fallen from 63-75% historically to about 4% today, against an ASCE-estimated $1 trillion 25-year need0:44:05.

Matichich reported 11 WIFIA loan holders renegotiated interest rates in 2020, saving an estimated $1.5 billion collectively0:50:08.

Sharp partisan disagreement over a proposed 65% EPA budget cut: Wilson, Friedman, and Garamendi warned it would gut water infrastructure funding and monitoring capacity0:25:501:32:401:44:02, while Republican members focused on the $37 trillion national debt and regulatory costs as bigger concerns1:48:37.

Bost's proposed WIFIA bonding-requirement amendment and his Clean Water SRF Parity Act (with Rep. Garamendi) to let investor-owned utilities access SRF loans drew general witness support1:04:521:06:541:07:24.

Walker said Congress-driven earmarks consumed over half of SRF appropriations in the 118th Congress, leaving 39 states with fewer resources1:58:44.

Figures cited Pritchard, Alabama losing an estimated 60% of treated water before delivery to end users, illustrating infrastructure decay in low-income communities1:56:41.

Fong and Matichich discussed the Sites Reservoir's WIFIA application, pending since 2021-2022, and the master-agreement mechanism (first used for a $1 billion+ Hampton Roads Sanitation District loan) as a model for large multi-year projects1:37:121:41:01.

Buckley and Walker both endorsed lifting private activity bond caps on water projects, mirroring the uncapped treatment given to transportation P3 financing0:46:061:12:58.

Metadata

CommitteeHouse Transportation and Infrastructure Subcommittee on Water Resources and Environment
Chamber / CongressHouse · 119th Congress
Date2025-03-11
TypeHearing
Witnesses
Mr. Jeff Walker — Immediate Past President, Council of Infrastructure Financing Authorities
The Honorable Tony Hillaire — Chairman, Lummi Nation
Mr. Mike Matichich — Economic and Financial Services Consulting Lead, Jacobs
Mr. Dan Buckley — Preconstruction Executive Mid-Atlantic, Garney Construction
Videoyoutube
Transcript259 caption blocks · 20,529 words · 2:28:54 runtime
EventCongress.gov 117997