Draft of upcoming short opinion piece. Three WIFIA amendments are noted — 55-year loan term for dam safety projects, statutory interest rate reset, and a FCRA Criteria fix.

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We don’t want any games from cost shares in federally involved projects sneakily hiding something from the budget, right? So, if there’s any doubt, include it, just like it says in the one sentence I read in some old report. And if the cost share ‘federal asset’ is included in the cash budget, the WIFIA loan paying for it ought to be as well. I mean, it’s the same federal asset, or sort of the same, or something. Anyway, it’s all just commonsense. Put the WIFIA loan in the nice and safe-sounding cash budget like all the other federal assets. No tricky accrual FCRA privileges for you, mister non-federal cost-share! Oh, that means the loan is effectively ineligible? Well, too bad — we must maintain the sacred integrity of the federal budget!