Washington, DC – Today, Representatives Mark DeSaulnier (CA-11) and Doug LaMalfa (CA-01) announced bipartisan legislation to improve accountability and oversight of so-called “megaprojects.”
The Transportation Megaprojects Accountability and Oversight Act (H.R. 6592) would establish an independent peer review group to assess the quality assurance, cost containment, and risk management of federal highway and transportation projects that cost over $2.5 billion. While current law requires financial reporting requirements for projects costing more than $500 million, no additional oversight mechanisms exist for large, complex megaprojects.
“Large infrastructure projects are vital to our country’s development and its economic growth. Yet, nine out of every 10 megaprojects experience cost overruns and many suffer significant delays that cost taxpayers millions of additional dollars. We need an oversight and review process that will help regain the public’s confidence in the government’s ability to plan, fund, and deliver these important projects and cut down on frustration, delay, and waste. The public deserves a system that manages costs, foresees risks, and holds decision-makers accountable,” said Congressman DeSaulnier.
“While there are some additional requirements for projects costing over $500 million, there isn’t nearly enough risk management or oversight of larger and more complex ‘megaprojects.’ These projects frequently go over budget and experience costly delays that taxpayers foot the bill for. This legislation would help make sure these large infrastructure enterprises stay on budget and on time, and local communities would be better for it,” said Congressman LaMalfa.
Read more at the East County Today