Abstract
Although its investment needs lag the dominant transportation category, water infrastructure addresses human needs at a foundational level because it plays public health and economic roles. Much of it is old and not likely to be replaced soon, so federal policy must focus on intergovernmental leadership to sustain vital dams, urban water systems, and natural systems. Fixing the federal responsibility requires attention to intergovernmental relations and the conflicting goals of investment and regulation. Regulatory reform is ongoing, and normally not amenable to political initiatives. Federal water policies for both investment and regulatory controls seem to be on a flat trajectory, which is expected because they have evolved over decades. These can be summarized as: maintain federal dams and levees, invest in small grants and leveraging funds for state and local governments, address water justice issues, and operate essential programs like flood insurance. Public health and safety concerns will continue to dominate, more than in other infrastructure sectors. The future of water investments will be to hold the course with occasional shifts to respond to emergencies and new opportunities, such as greater private sector involvement.
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