Federal Legislative Update Matt Reiffer ACEC FAST Act

Federal Legislative Update Matt Reiffer ACEC

FAST Act Implementation § Funding Opportunities: Ø FASTLANE freight grants Ø TIFIA financing Ø Alternative financing pilot program (VMT) § Key Issues: Ø Monitor DOT performance management rules. Ø Oppose GHG emissions requirement. Ø Promote environmental streamlining.

FAST Act Implementation § FY 2017 Funding: q Oppose $2. 2 billion rescission of funds. q Complete full-year appropriations bill to unlock increases. § Remind returning and new lawmakers of longterm funding challenge.

DOT FAR-Based Audit Rules § Ongoing work with FHWA, State DOTs to ensure § use of FAR cost principles for A/E audits. Recent Issues: Ø Limitations on bonuses Ø Excessive financial disclosures from firms with cognizant audit Ø Audit submission deadlines Ø Direct salary / wage rate caps § ACEC continues to team with FHWA to provide § training programs on the AASHTO Audit Guide. Alert ACEC to any problems!

FAA Reauthorization § Current extension expires September 2017 § ACEC priorities: Increase investment Ø Apply QBS to PFC-funded projects Ø FAR cost principles for airport contracts Ø Greater use of drones Ø

Water Resources § Senate WRDA 2016: $16. 8 billion for flood control, navigation, storm damage risk reduction. Ø Adds QBS requirement for SRFfunded drinking water projects. Ø Authorizes new water trust fund, funded through voluntary contributions. Ø Financial assistance to reduce lead in drinking water (Flint, others). Ø $1. 8 billion for CSO grants. Ø

Water Resources § House WRDA 2016: Ø Smaller scope, focused on Corps programs and projects – $17. 4 billion. Ø Authorizes $170 million assistance package for Flint. § Louisiana projects: § Calcasieu lock – $16. 7 M § West Pontchartrain – $466 M § Southwest Coastal LA – $2 billion

Tax Reform § House Tax Reform Blueprint: § New top rates for corporations (20%), pass-throughs (25%), and individuals (33%) § Eliminates individual & corporate AMT, estate tax; full expensing for capital investments; eliminates most deductions (retains R&D) § Eliminates taxes on overseas income going forward § ACEC advocating for balanced approach for C Corps and pass-throughs; preserve cash accounting § “Repatriation” could form basis of larger reform package, fund infrastructure.

Winning with ACEC/PAC • Essential to legislative program – helps to elect lawmakers favorable to ACEC agenda • Over $830, 000 raised in 2016 toward $1 million goal. • Political program integrated closely with legislative agenda; coordination with the states. • State support essential to meeting fundraising goals and growing the program. • Louisiana lawmakers: Sen. Cassidy, Reps. Graves and Scalise

Questions? Matt Reiffer mreiffer@acec. org 202 -682 -4308