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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Feb 25, 2021.
Water Affordability, Transparency, Equity, and Reliability Act of 2021
This bill increases funding for water infrastructure, including funding for several programs related to controlling water pollution or protecting drinking water.
Specifically, it establishes a Water Affordability, Transparency, Equity, and Reliability Trust Fund. The fund may be used for specified grant programs.
The bill increases the corporate income tax rate to 24.5% to provide revenues for the fund.
In addition, the bill revises requirements concerning the clean water state revolving fund (SRF) and the drinking water SRF. It also creates or reauthorizes several grant programs for water infrastructure.