Project Finance International: Infra Enthusiasm Up on Passing of Senate Bill

O’Melveny partner and co-chair of the firm’s corporate department, Eric Richards, discussed the US$1.2 trillion bipartisan infrastructure bill that was recently passed in the Senate and is now headed to the House of Representatives. “The bill itself doesn’t answer every question, and market participants generally understand that any bill’s implementing regulations will ultimately provide greater guidance concerning how most specific projects or proposed projects might be impacted. But, for the first time in a long while, the forward progression of the bill in Congress signals that we may soon have a broad-based, long term federal infrastructure policy,” Richards said. “This alone will help federal, state, and local governmental infrastructure project sponsors plan for and commit to more coordinated and long-term infrastructure development and in some cases seek to implement or expand partnerships with the private sector to multiply the effects of government spending.”

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