The American Water Works Association (AWWA) has commended President Obama for calling for the creation of a federal infrastructure bank in his Labor Day address. AWWA has been promoting that very concept for nearly two years and urged the president and U.S. Congress to include water projects in his plan.

“There are more than one million miles of water mains buried beneath our roads, stretching 20 times the length of our interstate highways,” said AWWA executive director David LaFrance. “Much of our water infrastructure was constructed between 80 and 100 years ago and is nearing the end of its functional lifespan.

“While transportation funding is important, our water systems, although out of sight, cannot be overlooked. These systems are critical for public health protection, fire protection, economic prosperity, and our overall quality of life.

“AWWA has closely examined the concept of a federal water infrastructure bank and testified to its merits before the U.S. House Subcommittee on Water Resources and Environment last July. The bank would borrow money through the federal treasury system at very low rates. It could then provide low-cost loans for urgent water projects that would put hundreds of thousands of Americans to work.

“Because the bank would issue loans, not grants, it would have minimal impact on the federal budget and would require no new taxes. It is a fresh, sustainable approach to financing our nation’s aging water infrastructure problem that strikes just the right balance between federal assistance and local responsibility.” For more information on the concept of a federal water infrastructure bank, visit http://www.awwa.org/Government/content.cfm?ItemNumber=48925&navItemNumber=3831.