WIFIA receives additional funding in omnibus spending bill
May 10, 2017
President Trump has signed into law passing an omnibus spending bill that will keep the government funded through September 30th of this year, as well as providing additional funding for the Water Infrastructure Finance and Innovation Act (WIFIA) program. The legislation appropriates an additional $10 million for the program, bringing the total funding for the program for FY17 to $30 million.
Of the $20 million appropriated for WIFIA in December of last year, $3 million is to be used for administrative purposes, leaving $17 million to seed loans. WIFIA leverages federal dollars so that for every dollar Congress appropriates, $50 to $60 is expected to be loaned out. That means up to $1.62 billion could be available for loans, when the addition funding is included.