Commenting on the passage of the One Big Beautiful Bill, Jon Phillips, CEO of the Global Infrastructure Investor Association, said:
“Faced with a $3.7 trillion funding gap to modernize US infrastructure, more private investment is essential to delivering a new ‘golden era’ of American Infrastructure.
“This can be best achieved by creating market certainty together with mechanisms to incentivize long-term investment.
“We applaud the decision to remove Section 899 from the One Big Beautiful Bill, a measure which would have increased taxes on international investors and driven investor sentiment in the wrong direction. However, the rolling back of clean energy tax credits is a retrograde step that will damage confidence for many investors as well as working counter to the wider objectives of increasing US energy security and growth ambitions.
“Our members, who manage over $2 trillion in global assets, are specialist infrastructure investors, and long-term pension and retirement savings funds, earning value for millions of individuals, including Americans. Private investors recognize the potential within America’s infrastructure sector and are prepared to help close the current investment gap without burdening taxpayers—if they see a stable and attractive policy environment that enables long-term commitments.
“Looking to the future, Congress and the Administration have a huge opportunity to unlock that potential. The reauthorization of the Infrastructure Investment and Jobs Act (IIJA) is fast approaching in 2026 and policymakers have a pivotal chance to expand the role of private capital in infrastructure – particularly within the surface transportation portion of the bill. If done rightly, it would unlock the investment needed to deliver large-scale transformational projects that modernize America’s aging infrastructure, leverage private-sector expertise, create good-paying domestic jobs, enhance competitiveness, and build resilience for generations to come. International investors stand ready to work in partnership with the Administration and Congress to ensure that private capital helps deliver America’s infrastructure renaissance.”