Approved by the Energy, Environment, and Water Policy Committee on March 25, 2025
Approved by the Infrastructure and Research Policy Committee on April 9, 2025
Approved by the Transportation Policy Committee January 29, 2025
Approved by the Public and Practice Policy Committee on May 7, 2025 
Adopted by the Board of Direction on July 10, 2025

Policy 

The American Society of Civil Engineers (ASCE) supports the creation and operation of a National Infrastructure Bank. Such a bank would leverage public funds and private dollars to invest in strategic infrastructure projects for local, regional, state, national agencies, and public-private partnerships. 

The National Infrastructure Bank: 

  • Should be capitalized initially by general fund appropriations and should be become self-sustaining.
  • Should develop financing packages at attractive and highly competitive rates and financial terms for selected projects, which could include direct loan guarantees as well as long-term tax credit general purpose and specific infrastructure project bonds. 
  • Should not replace existing infrastructure funding and financing mechanisms, but act as a supplement to leverage additional federal, state, local, and private infrastructure financing. 
  • Should support well-structured, viable projects that are resilient and sustainable.
  • Should support infrastructure projects that improve global competitiveness. 

Issue 

Legislation containing provisions to invest in infrastructure and strengthen communities require continuing investment to improve and maintain the nation's infrastructure. Decades of underfunding and inattention have jeopardized the ability of our nation's infrastructure to support and maintain our economy, and protect public health, safety, welfare, and the environment. 

The ASCE 2025 Report Card for America’s infrastructure assigned a cumulative grade of C (up from C- in 2021) and highlighted the need for sustained investment by using all possible tools. As estimated by ASCE’s Bridging the Gap – Economic Impacts of National Infrastructure Investment, 2024 - 2043, by 2039 deficient infrastructure will cost the average American household $2,000 per a year in disposable income through 2043 if IIJA-level funding is continued and $2,700 per year if funding reverts to 2019 (pre-IIJA) levels.

Legacy funding systems that draw upon federal taxes and trust funds have proven inconsistent and inadequate. Private sector mechanisms, such as public-private partnerships, and other innovative funding programs are an important tool but cannot alone fill the gaps. 

Rationale 

ASCE is concerned with the accelerated deterioration of America's infrastructure. A National Infrastructure Bank is an innovative financing tool to address the growing need for large-scale investments in critical infrastructure projects and maintain U.S. competitiveness in the global marketplace. ASCE has and will continue to support innovative financing programs that not only make resources readily available but also encourage the most effective and efficient use of those resources. 

Financing mechanisms such as a National Infrastructure Bank are needed to complement traditional means of paying for projects. The IIJA, CHIPS and Science Act, and Inflation Reduction Act provided substantial investment and forward-looking provisions to address our infrastructure needs, but more and sustained action is necessary. Financing mechanisms do not supplant the need for adequate user fees or other funding sources to eventually pay for projects. 
 
ASCE Policy Statement 532 
First Approved 2010 
 
The other ASCE policies that relate to innovative financing are: 
PS 382 Transportation Funding 
PS 434 Transportation Trust Funds 
PS 480 Water Infrastructure and Facilities Construction Funding 
PS 496 Innovative Financing for Transportation Projects 
PS 526 Public-Private Partnerships