Smart Space Act of 2026

Floor Speech

BREAK IN TRANSCRIPT

Mr. STANTON. I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H.R. 7388, the Smart Space Act, as amended.

The General Services Administration's portfolio of owned buildings are now, on average, over 52 years old, and many of the buildings have not undergone any significant modernizations since they were constructed.

In 2025, the GAO reported that GSA has a $6.1 billion deferred maintenance and repair backlog.

In 2026, the Public Buildings Reform Board reported that GSA's backlog was approximately $50 billion. Whether the cost to repair GSA's buildings is $6.1 billion or $50 billion, GSA does not currently have the funding. The Smart Space Act is intended to address this funding shortfall by directing GSA to identify alternative financing solutions for the construction, renovation, or, when necessary, disposal of public buildings.

GSA already uses alternative financing in the form of public-private partnerships, or ``P3s,'' to procure energy savings and facility improvements with no upfront capital costs or appropriations from Congress.

When used appropriately and when both partners are held accountable, public-private partnership can help deliver high-cost, technically complex projects more quickly, leverage private-sector resources and expertise, and reduce construction and operational risks for the Federal Government.

H.R. 7388, as amended, directs GSA to convene consultation meetings with real estate experts to identify alternative financing solutions for the construction or renovation of public buildings. Learning from experts is always a good thing.

Mr. Speaker, I support this bill and urge my colleagues to do the same.

Mr. Speaker, I support H.R. 7388, the Smart Space Act, as amended, and urge my colleagues to do the same.

BREAK IN TRANSCRIPT

Source