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MONEY PROBLEMS: Corps Funding Needed

Posted on: 12:07 pm, April 30, 2013, by

corps

The U.S. Army Corps of Engineers says it owes construction companies $60 billion for outstanding projects. Meanwhile, the Corps is still looking to improve its lock and dam system.

U.S. House representatives Cheri Bustos, Dave Loebsack and Bruce Braley joined at the Rock Island Arsenal Tuesday morning to try and figure out how to help fund the Army Corps of Engineers.

All three congressional members support a bill that would encourage private partnerships with companies to help fix the locks and dams.

Cheri Bustos believes that could save both taxpayers and the Army Corps money, but it could be very tough to find companies interested in financing it. Though she feels confident the private sector will step up.

“They need an efficient system to move their goods, and they need a pilot program to take a look if this is all feasible, but we have willing participants who want to come up with a solution here,” says Rep. Cheri Bustos.

Bustos says these projects will still take decades to complete.