DeLauro Applauds Establishing A National Infrastructure Bank
WASHINGTON, DC – December 03, 2015 – (RealEstateRama) — Congresswoman Rosa DeLauro (D-CT) reaffirmed today her support for establishing a National Infrastructure Bank. DeLauro, who has been a longtime advocate for such a program, believes that a public bank that would leverage public and private dollars for meritorious infrastructure projects of national or regional significance.
“I applaud Hillary Clinton’s proposal to establish a national infrastructure bank. Her new infrastructure proposal, which includes a national infrastructure bank, is a big step towards repairing our infrastructure,” DeLauro said. “Now is the time to invest in our nation, building better infrastructure systems and a stronger economy.”
“With limited money, innovative financing solutions are crucial to funding critical infrastructure projects, which in turn create good middle class jobs that cannot be exported and provide an economic spark that better enables America to compete with other economic power centers around the globe. Congress should immediately pass National Infrastructure Development Bank legislation.”
A National Infrastructure Bank would invest in transportation, environmental, energy and telecommunications projects. Under legislation submitted by DeLauro, the Bank would consider each project’s economic, environmental, social benefits, and costs objectively before selecting projects to finance. It would supplement other federal infrastructure programs by providing loans, loan guarantees and proceeds from bond issuances for projects, and make payments to help states and localities cover their bond interest payments. These investment opportunities will create jobs, support businesses spur economic growth, and help build key infrastructure for the future.
A broad coalition of national organizations have endorsed the creation of a National Infrastructure Bank before, including the National Governor’s Association, the U.S. Chamber of Commerce, SEIU, the National Construction Alliance, the Building and Construction Trades Department – AFL-CIO, the American Society of Civil Engineers, and the Campaign for America’s Future.