Bipartisan “Let’s Build Infrastructure” Coalition Launches To Promote Public-Private Partnerships
Co-Chaired By Former Mayors Mick Cornett & Michael Nutter
Alexandria, Va. --- As the debate over the infrastructure bill continues to dominate Capitol Hill, a bipartisan pair of former mayors today joined forces to launch “Let’s Build Infrastructure,” a coalition committed to raising awareness about utilizing public-private partnerships (P3s) to finance infrastructure projects.
Mick Cornett, the former mayor of Oklahoma City (2005-2018), and Michael Nutter, the former mayor of Philadelphia (2008-2016) will serve as co-chairs of “Let’s Build Infrastructure”, a 501(c)(4) non-profit organization. A P3 is an agreement between a governmental entity and a private sector company to build an infrastructure project, including but not limited to roads, bridges, schools, using private capital for the project’s upfront costs.
P3s have already earned support from across the ideological spectrum. They were included in the $1.2 trillion dollar Bipartisan Infrastructure Framework agreed upon by a group of 21 Democratic and Republican senators, as well as the White House’s fact sheet of funding sources in their endorsement of the proposal. Senate Minority Leader Mitch McConnell (R-KY) has expressed optimism about the infrastructure package on the condition that it is paid for.
“Public-private partnerships take much-needed financial resources off the sidelines and put them to work rebuilding our crumbling infrastructure – they are a common-sense and bipartisan solution to a real problem that impacts everyone,” said Mayor Nutter. “There are billions of dollars sitting on the sidelines right now, dollars that help offset the price tag of the infrastructure package. This is one pay-for that has bi-partisan support in D.C. and is used across the country.”
“As Mayors, we were always looking for creative and outside-the-box ways to stretch limited budgets,” said Mayor Cornett. “We relied on public-private partnerships to make a positive difference in the lives of our residents and grow our cities into world class metro areas. It’s not surprising the concept has earned praise from both Democrats and Republicans alike. America needs new infrastructure, and public-private partnerships are a common-sense and bipartisan funding source everyone should be able to rally around – now is the time to get it done.”
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